Maintenance payment insurance

delerium

Hi all,

I've searched the forum for this but answers were at least 2 years old so thought I'd ask a more timely question.

Is it still possible to get insurance to cover my ex husbands child maintenance payments for the next 13 years till the children are over 18? If so does anyone have any recommendations as to companies. My ex currently pays 20% of his salary for our 2 children which I would struggle without should he die or he be unable to earn.

With thanks in anticipation

elsien

The money advice service has this, however it would only appear to cover in the event of your ex's death, not a change in income or circumstances.

"Protect child maintenance payments

Consider taking out life insurance to cover your ex-partner’s life if you receive child maintenance from them. You or your ex-partner could take out a policy that pays a lump sum, or one that pays you an income for a specific length of time (perhaps until the child maintenance payments were due to end).

Life insurance that pays an income rather than a lump sum is called ‘family income benefit’ insurance."

kingstreet

Life cover and/or Permanent Health Insurance, written on a life of another basis would see you pay the premiums and receive the benefits in the event of death or inability to work due to accident or sickness.