Maintenance payments are often an area of difficulty for ex-partners and sometimes payments are missed for reasons outside the control of the person who makes the payment. There would be financial implications for the working spouse if the parent who remains at home to care for the children could no longer continue to do so because of death or illness.
Divorced parents can, for a monthly premium, protect against the possibility of the person who pays the maintenance being unable to maintain payments.
Life assurance need not be costly. Family income benefit is one of the cheapest forms of insurance and is appropriate when a term of cover is required, e.g. to the 18th birthday of a child.
Protection against illness is also important as this could cause financial difficulty. Critical illness insurance provides a tax-free lump sum when the person insured is diagnosed with a serious disease such as a heart attack, cancer or stroke. The risk of being away from work due to illness, accident and unemployment is much greater than death before retirement. There are many types of insurance policies avaialble which offer financial protection following divorce for illness, accident and unemployment.
As part of a divorce settlement payment of premiums for maintenace protection can be enforced by a court order and this can also apply t unmarried couples with dependent children.