Coverage Details
InsuredSupport Coverage Explained
InsuredSupport does not insure people. It insures your Marital Settlement Agreement and certain financial performance obligations in it, specifically the payment of monthly child and spousal support when the Paying Party becomes involuntarily unemployed.
Coverage is triggered when the Paying Party receives their first unemployment check from the state. InsuredSupport steps in and makes the monthly support payment directly to the Receiving Party for up to six months under the terms and conditions of the policy.
This is private insurance. It never has to be repaid.
Important Information
- Either Party may apply for and pay for InsuredSupport insurance
- Coverage ranges from $400 to $9,000 per month
- Rates are based on the support amount and the Paying Party’s work location
- InsuredSupport can be added to new or existing Marital Settlement Agreements
- InsuredSupport must be added to the MSA by an ALPGA member attorney
- Premium is waived during periods of unemployment
- The Paying Party must be a full-time W2 wage earner, non-seasonal, not self-employed
- Your current lawyer can become an instant member online at www.amlawpg.org to make you eligible
Controls
- 90-day initial waiting period (first year only)
- 14-day elimination period after a claim is filed
- Coverage is limited to 24 weeks of payments for each period of unemployment
- There must be 90 days between periods of unemployment to file additional claims