Dealing with life insurance is an important part of divorce. This is especially true for divorcing couples who have children.
If you and your ex-spouse have life insurance policies, make sure to adjust the beneficiaries on the policies to reflect the changes you both want after the divorce is final. If you want to keep your ex-spouse as a beneficiary, the ex-spouse would need to be renamed as a beneficiary after the divorce.
If you become a single parent, review your life insurance policy, as well as your will retirement accounts to make sure they all indicate the correct beneficiaries.
If your spouse will be paying for child support, consider requiring that they purchase a life insurance policy covering the term of the payments. You should be named as the owner and beneficiary of such a policy to prohibit your ex-spouse from changing the beneficiary name without your agreement.
Never leave a life insurance benefit directly to a minor child, instead make sure the policy names a contingent beneficiary or a trustee who will act as a beneficiary on behalf of the child.
When considering purchasing life insurance, the amount of coverage you need depends on your financial circumstances and beneficiaries. Do your homework and make sure the amount of coverage is adequate, the policy is affordable and that any children involved are financially protected.