Marriage Insurance - A Twist in Divorce
SafeGuard Guaranty Corp, based in North Carolina, wants to market a unique insurance policy in the United States. The insurance company is marketing “marriage insurance” as a means to financially protect couples who won't stay married and financially rewarding those who do stay married.
In the United States, around 2.3 million weddings take place each year. Statistically, about 50% of first marriages end in divorce. Moreover, over 60% of second marriages end in divorce.
If a couple manages to remain married for the long term, then the insurance policy has a large payout down the road. This provides an incentive for people to stay married and work through their problems. The payout for Safeguard's policy could be $100,000 after 25 years of marriage. The United States' Census estimates that only 33% of married couples today will celebrate their 25th wedding anniversary.
Today, Safeguard is actively seeking couples who will be likely to last the 25 years of marriage bliss. The new Marriage policies were developed in 2010, but the carrier is not currently offering policies, as it seeks a new underwriter. So you will have to wait a little while longer to gamble on your marriage vows.