Daniel Hochler | Source | Managing Associate at Forest Hills Financial Group

Even if you do not get along with your former spouse, it is still important to protect the child or children you had with him or her. Taking out a life insurance on your former husband or wife, will protect your children in the event you are no longer able to, and provide them the life and education you would want them to have.

As you move apart from your prior spouse, you can guarantee the children you had with him or her are protected. The policy that you take out on your former spouse can be guaranteed to go to the children you want it to, which may not be the case if the existing policy has other beneficiaries, including a new spouse or additional children.