SafeGuard Guaranty Corp. looked at the divorce statistics and now offers divorce insurance called WedLock.
If the marriage crashes, WedLock “provides financial assistance in the form of cash to cover the costs of the legal proceeding - as well as other expenses that might arise like setting up a new apartment or house after a divorce.”
Each unit of WedLock insurance costs $15.99 a month and provides a benefit of $1,250 to cover divorce expenses. Customers are encouraged to purchase multiple units of the insurance.
Wedlock is not intended for short-term marriages. “In order prevent people who are already planning to get a divorce from taking advantage of the insurance, Safeguard requires a period of 48 months of marriage before a policy is considered matured and the pay-off is guaranteed.
“Every year almost half of all families that go through divorce end up below the poverty line. And the reason is that on average, people lose 77% of their total net worth as a result of divorce, so WedLock Divorce Insurance℠ may certainly offset some or all of that loss depending on the size of the policy purchased.”