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: Legal Blog Watch

Cold Feet? Buy Some 'WedLock' Divorce Insurance Before Taking the Plunge

By Bruce Carton

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I wrote here about Wedsafe, a wedding insurance product that offers brides and grooms all-inclusive policies insuring against cancellations due to sudden illness or weather calamities, as well as disaster cakes, lost photographs, drunken guests getting into an accident or a fight -- and so on. But why stop there? What if the entire marriage turns out to be a calamity and needs to be put out of its misery? Enter WedLock, a brand of "divorce insurance." The New York Times reports that SafeGuard Guaranty Corp. recently released what it calls the world's first divorce insurance product, covering divorce costs such as legal proceedings or setting up a new apartment or house: It is sold in ?units of protection.? Each unit costs $15.99 per month and provides $1,250 in coverage. So, if you bought 10 units, your initial coverage would be $12,500 and you?d be paying $15.99 per month for each of those units. In addition, every year, the company adds $250 in coverage for each unit. After you rid yourself of the ol' ball-and-chain, send WedLock proof of your divorce (note: policies don?t mature until 48 months after their effective date) and wait for the divorce insurance money to...

Full post as published by Legal Blog Watch on August 09, 2010 (boomark / email).