Divorce Insurance. Yes, It’s Real. Read on.

Safeguard Guaranty Corp. of North Carolina just released a new product they call, WedLock. (Don’t you love where this is going??) It’s really a clever way of saying, Divorce Insurance.

Here’s how it works.

The insurance provides the insured (you) with financial assistance if you get a divorce: legal fees, setting up a new home, etc.

Unlike a predetermined limit (as you see on your homeowner’s policy or liability policy), you’d have a quantity of “protection units” which go for $15.99 per month per unit. Each unit gives you $1250 in coverage. So, if you bought ten units, you’d pay $159.90 per month and have $12,500 in coverage. Every year you are married, the company gives you an additional $250 in coverage per unit you purchased.

So, in the case you actually do get divorced, you send WedLock proof of your divorce and they send you your coverage amount in a fat check.

Great! Now I’ll Get Married to Get Divorced and Get Paid!

No, sorry, that probably won’t work.

Not only is that kind of horrible and fraudulent, but the company has set up safeguards to prevent such behavior. Policies don’t mature until 48 months after their retroactive date. It seems like they’ve also found a way around individuals who have purchased this type of insurance and been divorced several times.

Their Website. Which Proves This is Totally Real.

Out of curiosity, I decided to check out their website. Just to make sure this actually existed.

The website provides you with a number of tools. The Divorce Cost Calculator tells you, using numbers, that divorces can be extraordinarily expensive.

Then, there’s a cynic’s delight: The Divorce Probability Calculator. That’s definitely worth humoring even if you don’t buy the insurance.

Actually, having toured most of their homepage and additional links, the whole thing is terribly depressing. I’m filled with a mix of emotions that can be summed up as, Oh-My-God and Wow and How Depressing and I Can’t Believe I’m Reading This. The happy, bright colors I’m seeing on their website seem to ignore the fact that they’re selling divorce insurance. Even the tag line: There’s no time like the present to think about your future– that’s crazy.

If you click below the tagline to “Learn Why,” the photos they use to describe the process of how a marriage can be torn apart are pretty ridiculous.

I guess my overall assessment is still, “I Can’t Believe It Exists.”


NY Times Article

WedLock Official Site

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