Maintenance payments often form part of a divorce settlement and can therefore be legally binding. Whilst this provides some security of payment for a fixed period of time, what is often overlooked is that the payments would cease on death of the person paying the maintenance and potentially cease if the payer became critically ill and was therefore unable to afford to continue making payments.
Life assurance and, where required, critical illness cover, can provide peace of mind to a divorced parent, knowing that maintenance can be paid if their ex-spouse dies or is diagnosed with a critical illness. A family income benefit policy is the most suitable type of insurance arrangement to provide this protection. One of the advantages of a family income benefit plan is that the cost of the cover is generally one of the least expensive forms of life insurance
The case study in this link gives you an illustration of how effective, and essential,this type of insurance can be. click here