The Huffington Post recently laid out 3 of the most common mistakes people make when it comes to life insurance and divorce.
If you and your attorney are negotiating for life insurance coverage as part of your agreement, consider the following before you sign the agreement:
1. Mistake #1: He’s underinsured: How much insurance protection you need depends on how much you expect to receive over the term of the agreement. At the very least, the death benefit (the amount you get paid when the insured person dies) should be enough to pay off your current mortgage, the cost of educating your children through college and credit card debt.