Help for Joint Insurance policy after divorce

Earthmother_2

I am nearly divorced. We have a joint policy to cover the mortgage and a bit more if one of us dies. I have the house in the divorce settlement, but there is still 10 years left on the mortgage, my ex can't pay it off in one go so is continuing to pay the monthly payments.

If he dies I get the payout and the mortgage is paid off, but if I die he gets the money and my kids will be left with a house and no means to pay the remaining mortgage if he just decided to keep the money.

I have asked Aviva but they cannot offer advice. They said I could get a deed of assignment or put it into trust. I've read the documents and they are as clear as mud.

Can anyone offer any advice on what to do please. If he dies I want to be paid out to pay the mortgage off and to cover spousal maintenance/child support. But if I die I want the kids to get the money and not him. I know if he gets the money he will try and manipulate the kids into him getting the house back and moving back in and they don't want that. (my kids are 16 and 17 for the record.)

Weighty1

Aviva have a separation benefit option on their policies (or at least some of them) however, having just read the Key Facts Document, it appears this can only be used if you have split and rearrange the mortgage into one name. It could be worthwhile calling and explaining the circumstances to see if there would be any lee-way with this. You'd at least want to speak to some form of supervisor though rather than the general phone staff.

Earthmother_2

Thank you, that is what we are doing with the mortgage. I will check that out, thanks again