By Robert L. Mues   |   January 13th, 2018

spousal support unemploy1:42 AM 1/13/2018ment benefitsOften times when a couple divorces, a court will order one party to pay spousal support in Ohio and/or child support if there are minor children involved.  And while it can seem that every, last detail from property division, to health insurance and retirement benefits is hammered out in the final decree, there may be an area that is too often overlooked.

What happens if the party obligated to pay child or spousal support suddenly becomes unemployed?  Then what?

The Great American Insurance Group now offers Marital Settlement Agreement Insurance (“MSAI”), to insure divorce obligations during periods of unemployment.  The program, which has been 40 years in the making, was developed by Richard S. Zizian, J.D., of the Zizian Agency in San Diego, California.  It is now available in all states except Hawaii and Alaska.

Insurance Group Offers Spousal Support And Child Support Payments During Times Of Unemployment

In order to qualify, a person must be a full-time, W-2 wage earner.  The holder can choose to pay the premiums annually, quarterly or monthly.  The policy pays up to 24 weeks of benefits per year for child and/or spousal support payments.  In addition, it covers obligations ranging from $450 to $9000 per month and can be utilized for new or existing divorce agreements.

The policy kicks in when the obligated party becomes involuntarily unemployed and begins to receive unemployment benefits from the State.  The insurance payments are then paid out directly to the recipient.  The policy is designed to renew annually for the term specified in the settlement agreement or court decree.

Here is what the company says as to why the spousal support product is needed:

The amount people receive from the State in unemployment benefits is minimal, and unemployment benefits can be as little as 12 weeks in some states. It is never enough for the Responsible Party to meet their cost of living and legal and financial obligations all at the same time. It only takes a very limited amount of time off of work before support payments fall behind. Court ordered support is often for many years and it is not a matter of “if” the Responsible Party becomes unemployed, but “when”. InsuredSupport® is designed to (1) provide a temporary financial bridge on behalf of the Responsible Party, during qualifying periods of unemployment, (2) helps the Responsible Party meet their legal and financial obligations under a court decree and/or marital settlement agreement, and (3) provides financial income to the financially dependent Recipient Party.

Because there is an initial 6 month waiting period, the company recommends that you apply as early as possible.  To learn more about the product visit Insured Support for more information.

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Robert L. MuesAbout The Author: Robert L. Mues
Robert Mues is the managing partner of Dayton, Ohio, law firm, Holzfaster, Cecil, McKnight & Mues, and has received the highest rating from the Martindale-Hubbell Peer Review for Ethical Standards and Legal Ability. Mr. Mues is also a founding member of the "International Academy of Attorneys for Divorce over 50" blog.

New Insurance Product to Guarantee Child and Spousal Support Payments During Unemployment

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