Sometimes parting ways with a loved one is the only solution. If divorce is agreed, it’s important to try and manage the estrangement with the minimum of fuss, hurt and expense - which is easier said than done in most cases!

If you have children, they, as you’d expect, will be top of mind. You’ll want to be sure that they are well looked after and supported through this difficult time. With so much going on, there will be things that slip your mind – but don’t let slip your financial paperwork. It’s important to keep up-to-date with this or your future may not turn out quite how you planned.

When Warren Hillman, a gentleman from the USA, died in 2008 at the age of 66, little did he know that his death would spark a five year battle between his ex-wife and his widow. His assets included a life insurance policy worth $124,558. In 2013, the U.S. Supreme Court found that Judy Maretta, who Hillman divorced 10 years before he died, was entitled to every penny of his life insurance pay out.

Why? Because Hillman made a basic error and unfortunately all too common mistake.  When he divorced Maretta he did not change the name of the beneficiary on his life insurance policy.

Regular reviews

This is just one of the reasons why it’s important to review your life cover regularly - to ensure your protection payment goes to the right person if the worst happens.

You should review your life cover on a regular basis, because as your circumstances change, so might your insurance needs. For instance, if you have more children or buy a more expensive house, you may want to consider being insured for a larger amount.

So whether you are celebrating a new addition to the family, have moved house, or recently divorced – don’t forget to get your life insurance policy needs reviewed.

Our experienced team are here to make sure you’ve got the right cover and to make sure that your life cover pays out to the right people at the right time. We’ll be with you throughout, whatever life throws at you, every step of the way. To speak to an Essential Insurance advisor call us on 0800 612 8005.