Marital Settlement Agreement Insurance (“MSAI”)
Unemployment Insurance Covering Child and Spousal Support Payment Obligations
For the first time in the history of American family law jurisprudence, it is now possible to insure child and/or spousal support payment obligations under a Marital Settlement Agreement against certain unemployment risks. The MSAI IncomeAssure® coverage benefits protect the financial interests of both the Obligated and Recipient parties when the Obligated party experiences unemployment
- Program Insurer: Great American Insurance Company
- Coverage: Pays up to 24 weeks of benefits, per year, for child/spousal support payment obligations.
- Coverage Range: Covers support obligations from $450 up to $9,000 per month.
- Direct Payment: The benefit payments are paid directly to the Recipient party.
- Coverage Available for Both New or Existing Agreements: Apply for coverage today.
- Eligible Employment: The Obligated party must be a full time, W2-Wage Earner (not self-employed).
- Premium Payment: Premiums can be paid annually, quarterly, or monthly.
- Triggering Event: The Obligated party become involuntarily unemployed and receives state unemployment benefits.
- Coverage Waiting Period: First year only: six months eligibility waiting period. Apply early.
Unprecedented and Necessary Coverage:
State unemployment benefits never fully replace lost wages, even with the best of intentions, the Obligated party may not be able to make their child and spousal support payments. MSAI IncomeAssure® bridges this financial shortfall during critical periods of qualifying unemployment*.
*Qualifying Period of Unemployment: The Obligated Party qualifies for and receives unemployment benefits from the state which triggers MSAI coverage benefits. See the Policy for specific terms and conditions.
Use the free, no obligation, quoter to receive a preliminary quote for Marital Settlement Agreement Insurance. Follow the simple instructions on your screen. Once you have entered your state, annual income, and occupation, simply us the slider to adjust the amount you want to insure each week. If you are satisfied, you can apply for coverage by clicking the “apply now” If you are not certain how to answer a question, click on the “?” for an explanation. There is also a “Live Chat” feature to help you through the process or call 1-888-593-8752
Attorneys may make online inquires and can register to receive program news and periodic updates by clicking on the Contact Us tab above and completing the form provided. Attorneys may also receive information by calling the number below.Attorney Information Line: 619-236-0569
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