Women and insurance - Separated and divorced wives

The comments about widows apply even more so to separated and divorced wives.

They are often the sole breadwinners in families and their death could have catastrophic results for their young children. It is important during divorce or separation proceedings to check the life assurance position.

A man can get tax relief in some cases for a policy taken out on the life of a wife even after they are divorced, as long as the policy was taken out during the marriage and before 5 April 2008.

It is sensible to try to get life assurance benefits written into any divorce settlement. It may mean having to accept lower maintenance during the period of the policy, but it can bring a tax-free sum when it is most needed - as a woman reaches retiring age. Ex-wives are only eligible for a proportion of a former husbands pension either before or after his death, depending on the duration of the marriage.

Where a man has remarried both wives share his pension after death, again in proportions related to the length of the marriages. This right of an ex-wife is relatively new: previously they lost all rights to any part of a husbands pension on a divorce.

This is an area where professional advice is vital.


Separated and divorced wives

Payroll Giving
It’s all very easy to organise.
Just ask the Personnel or the Payroll Department at your company and, if they already have a scheme, they will give you the relevant forms.  HM Revenue & Customs’ website has a list of Payroll Giving agencies and explains payroll giving in more detail.

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read on: Protecting your possessions - Contents

The comments about widows apply even more so to separated and divorced wives.

They are often the sole breadwinners in families and their death could have catastrophic results for their young children. It is important during divorce or separation proceedings to check the life assurance position.

A man can get tax relief in some cases for a policy taken out on the life of a wife even after they are divorced, as long as the policy was taken out during the marriage and before 5 April 2008.

It is sensible to try to get life assurance benefits written into any divorce... see: Protecting your possessions - Contents