Therefore, a divorce decree may require a parent to purchase and maintain life insurance in a particular amount for the benefit of the children. Commonly, the parent who is paying child support (Payor) will be required to buy and maintain the insurance on his or her life for the benefit of the minor children (or for as long as child support is due). This protects the children in the event that the parent dies prior to the child support obligation being paid and completed.
The order to purchase and maintain life insurance can also be made as “spousal support”. In that case, the order will generally be in effect for as long as spousal support is due.