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declaration of life assurance

  • ALEXANDER's Avatar Posted by
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28 Jan 08 #12209 by ALEXANDER
Topic started by ALEXANDER
in mediation...life assurance valued at £750,000 i know of hasn`t been declared...i realise that this is to do with my husband insuring himself..it was taken out some years ago...but shouldn`t he be declaring it ..what is the benefit to him of not declaring it?..help please..this is all very stressful

  • DownButNotOut
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29 Jan 08 #12235 by DownButNotOut
Reply from DownButNotOut
As far as i know life assurance is not really one of the 'big ticket' items up for debate when splitting finances.

It has no absolute value that can be compared / traded with the other real assets.

Where I believe it comes in is.....if you agree on a maintenance figure .....for example him to pay you 1000 per month for next 10 years.

You basically want that 1000/mth for 10 years guaranteed and if he died that income would stop.

1000/mth for 10 years = 120K.

So in this example you should be negotiating for him to commit (as part of the agreement package) to pay for life insurance on his life..with you as beneficiary..for a sum of 120K.

So in summary.....I do not think his current life insurance is that important......what is important is to protect your future maintenance income stream against his death.

If you agree a Clean Break deal (more assets up front and no maintenance)... then life insurance is not really relevant.

  • mal
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15 Jun 10 #209369 by mal
Reply from mal
This might be helpful:


although probably not - I have just noticed how old the post is!

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