My ex husband has to keep a $1 million dollar life insurance policy with me as sole beneficiary until I'm remarried for 2 years. He currentl...

Question

My ex husband has to keep a $1 million dollar life insurance policy with me as sole beneficiary until I'm remarried for 2 years.

He currently has a $2 million dollar policy with me as 50% beneficiary and his wife 50% beneficiary. Policy was a 10 yr term and expires this Feb. Aside from the obvious, what is my argument for insisting on separate policy?

Answer

That if he fails to pay the pre,mium, you will and seek to collect from him. You don't want to pay for his wife.

Answer

I agree with Arnold, although a single policy might be less expensive than 2 policies. More important is that the policy be renewed at termination or a new policy be substituted.