May St. Valentine forgive us, but did you know that Europe is the continent with the most divorces on the planet and that Spain is one of the countries with the most marital breakdowns? The statistics are overwhelming: 57 out of 100 marriages end in divorce in Spain. There is no doubt that wider access to legal advice, the streamlining of procedures, and the evolution in social roles have contributed to this.
A fact that will reassure St. Valentine: 77.7% of divorces in Spain are by mutual agreement and only 22.3% have to be resolved through contentious proceedings. Yes, we get divorced more. But probably each time we divorce better. And this is no small matter, since a poorly-managed divorce can turn into a very complicated process, especially when there are children involved.
It is impossible to predict if there will come a day when you will want to break up your marriage, but you can take out an insurance policy to ensure that the collateral damage is mimimal should it come to pass. At least, the economic damages. Divorce insurance will allow you to cover two main types of expenses: firstly, those associated with the separation process procedures and secondly those generated by the divorce itself once it has gone through. This way you can eliminate any risk of significant financial losses from the process. According to data from the INE (National Institute of Statistics), it is calculated that the average cost of a divorce in Spain is between 400 euros in the case of a “quickie” divorce and 2,000 euros in the case of a contentious one.
Children, the main beneficiaries
What if you have children at the time of divorce? One of the most interesting guarantees of this product is that if custody is not shared, the insurance would entitle your children to receive alimony up to a certain age. This insurance covers the situations that might affect the parent responsible for paying the alimony: a temporary disability, unemployment or even death.
It might seem strange to take out this type of insurance when we all think that our relationship will last forever, but just as life insurance does not bring us closer to death, divorce insurance does not bring us closer to a marital breakup, or assume any lack of commitment that might lead to this. It is simply a matter of guaranteeing your peace of mind in the event of potentially complicated situations.
Although this type of insurance is relatively new in our country – barely ten years in the market – the divorce figures indicate that it will not take long to become popular. By the way, statistics tell us that we remain married for an average of 16.6 years and that the average break-up age is 47.8 for men and 45.2 for women. Are you in that risk group? How was Valentine’s Day?