Life Insurance

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Life Insurance

The new bill now provides the court authority at a temporary hearing (pendente lite) to require a party to maintain an existing policy of life insurance owned by that party insuring the life of either party or to require a party to name as beneficiary the other party or an "appropriate person" for the exclusive use and benefit of the minor children of the parties. The court still lacks the authority to order a party to maintain an existing policy of life instance on the other party on a final basis. The bill further provides that the court can allocate the cost of such life insurance between the parties provided that all premiums are billed to the policyholder.

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