This is a topic that is addressed in almost all divorce decrees. The court wants to make sure the party or parties earning wages have life insurance to protect the children in case of an untimely death. Generally, the divorce decree will state that the children of the couple must be the beneficiaries of the policy, and the surviving parent will be named as custodian of the policy if the children are under age. Sometimes, a party can name a different relative as custodian, such as a sibling or parent, but generally the decree will require the surviving parent to serve in such position. There is also usually a minimum amount of insurance coverage stated in the decree.
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