Can I Keep the Life Insurance on My Ex?
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Question of the Day:
When my husband and I bought our home 17 years ago, we took out a life insurance policy on him since he was the sole provider of support for our family. If we divorce, can I keep that policy since it's in my name and I am the beneficiary? – Tracey
Answer:
Tracey: If you are the owner of the policy (note this is not the same thing as the beneficiary), then you will probably keep the policy after the divorce. If it has a cash value, then you may have to give up something to adjust for that.
