Insuring child support payments? HELP

[Dontknow88]

 Am I wrong for wanting to ensure child-support payments From a person that's highly suicidal and paying child support. Has anyone done this?

We talked about it when we were togeather (and before I found out he had mental illnesses)
Where I'm from if he dies for whatever reason I'll lose the income that helps out a lot (child support) and the fact that he's highly suicidal saddens me for that's another good reason to get it insured. I just think it's a smart thing to do for the child's sake.

What I mean by getting it insured is to have him put his child on his life insurance.

[Turkish]

Not to sound morbid,  but what's your understanding of his contributions to social security thus far?  Minors get a benefit. 

[Dontknow88]

Not to sound morbid,  but what's your understanding of his contributions to social security thus far?  Minors get a benefit. 

He pays child support but nothing set in stone currently making a sepetstion agreement and wondering if I should put life insurance in it since he's not on his

[ForeverDad]

What Turkish suggested you research is that if you're in the USA and he does someday succumb to self harm, while you would lose child support, that may open up a survivor's benefit for your child and perhaps you as well.  The amount of available support would depend upon his work history.  One factor may be whether he has been reported as gainfully employed for 40 or more quarters.

https://www.ssa.gov/planners/survivors/ifyou3.html
https://www.ssa.gov/planners/survivors/ifyou4.html

If he should succumb to suicide, yes child support from him would of course end, then you should take advantage of other resources that are available.

[Dontknow88]

What Turkish suggested you research is that if you're in the USA and he does someday succumb to self harm, while you would lose child support, that may open up a survivor's benefit for your child and perhaps you as well.  The amount of available support would depend upon his work history.  One factor may be whether he has been reported as gainfully employed for 40 or more quarters.

https://www.ssa.gov/planners/survivors/ifyou3.html
https://www.ssa.gov/planners/survivors/ifyou4.html

If he should succumb to suicide, yes child support from him would of course end, then you should take advantage of other resources that are available.

Oh OK I don't live in the states we don't have anything like that here, from if a parent dies and they are on life insurance child support payment stops he is from the US but where I live it doesn't matter where he's from it matters where our child is born and our child wasn't born in the US. so my question is would it be horrible to ask him to include him on life insurance? we talked about it when we were together but we aren't now so would it still be weird to ask?

[Thunderstruck]

I was just discussing something like this with DH (we do live in the US). We're not concerned about self-harm with uBPDbm, but she does live a very risky lifestyle and has a weak heart.

I didn't know whether it was possible, but from my preliminary research we could take a policy out on uBPDbm since we have a vested interest on her still being alive and able to earn money (she's in theory paying half of SD's expenses). The trouble is that the person has to sign off on the policy and might need a physical (getting her to agree to that would be very tricky).

We're considering putting into our final CO a life insurance policy taken out on uBPDbm. I believe we would be the policy owners and pay the premiums and would make SD11 the beneficiary. It would just be nice to have a little college fund or car fund or whatever for SD if something ever happened to her mom.

[ForeverDad]

On the other hand, life insurance may turn out to be expensive since his emotional health is questionable even if his physical health is okay.  Do the application forms ask about history of mental or related issues?

Would it be less triggering for him to see if he would contribute to your child's education fund or some other arrangement to provide something in future years?

My raises, few as they are, haven't been enough to adjust for inflation.  Some financial advisors are saying the global financial system is getting shaky.  Reminds me how years ago my CS payments halted while I was paying alimony.  The CSEA refused to hand back my $500 overpayment.  I joked that when son would turn 18 ten years later and I got my frozen money released that I'd take him out to dinner and we'd enjoy a couple hamburgers.  It may not be that bad (yet) but still a crash is a possibility.

Recently I've been switching some 'currency' (paper/fiat) to 'money' (in-hand gold or silver).  Better to be prepared than surprised.  Would Ex be agreeable to give your child, in your safekeeping, a silver coin every couple weeks?  Right now an ounce or two of silver is relatively cheap.  (It was about $15 until this year, then it rose to over $20, and has since retraced temporarily to under $18 USD.  In a couple years, who knows?  Some are predicting it could return to 2012-13 highs over $40.  What I'm pondering are these differences:  (1) As an investment type it would be less likely to be spent too quickly.  (2) Ex may enjoy giving son that type of a tangible 'gift' and do so with less quibbling than with a check.  (3) It would come in handy during an extended bank holiday like Cyprus experienced or the negative interest rates now levied in some banks and countries.

[Catsmother]

I would have thought that if the child were the beneficiary of life insurance then they would not be able to access the finds until they were 18 or 21 or whatever the age of majority is. And I am sure that your ex would not want you to get the money on his demise no matter how many promises you make. The death of a parent is usually a terminating event for child support. If he has not carried insurance before, then he probably won't now. If you were still together you would have the same issue.

[Dontknow88]

I would have thought that if the child were the beneficiary of life insurance then they would not be able to access the finds until they were 18 or 21 or whatever the age of majority is. And I am sure that your ex would not want you to get the money on his demise no matter how many promises you make. The death of a parent is usually a terminating event for child support. If he has not carried insurance before, then he probably won't now. If you were still together you would have the same issue.

He has insurance now (hence that's why we talked about it) and he did talk about me being  a beneficiary . But we had a big fall out (and thinks we are still friends) and I'm sure that's not the case anymore. he's telling family members is that he doesn't have a problem with me being a beneficiary he trust me when it comes to raising our child.   I'm just curious and only a lawyer and him would know

[HopefulDad]

Life insurance policies don't necessarily pay out if cause of death is suicide.  Something to consider.

[Dontknow88]

Life insurance policies don't necessarily pay out if cause of death is suicide.  Something to consider.

Right. I am just terrified