SafeGuard Guaranty to Offer Divorce Insurance
By Jeff Schaible
Published on September 18, 2006
The insurance will be designed to reward people who have a long and successful marriage; however, the coverage will provide compensatation to defray the cost of a divorce. The average cost of legal fees for a divorce is $15,000 to $30,000.
A recent study by Ohio State University sociologist Jay Zagorsky found that divorced individuals lose an average of 77 percent of their net worth during a divorce. Additional research depicts divorce as the number one reason for bankruptcy and poverty among single mothers worldwide.
An estimated 10 million American marriages are expected to end in divorce by 2015. SafeGuard estimates the market for divorce insurance to be nearly $200 billion worldwide.
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