If you're looking for a unique and dubious wedding gift, why not consider divorce insurance? Startup SafeGuard Guaranty Corp. offers divorce insurance designed to provide cash to cover divorce and some relocation costs.
Divorce insurance policies don't mature for three to four years, so couples who know they're divorcing will have a long wait on the return of their premiums if they divorce before their policy matures. Some people argue that the premium costs are high and married people should put money in personal savings instead. Others say that both divorce insurance and marriage are unnecessary.
Why This Trend Is Growing
- Divorce Insurance
- The trend of offering divorce insurance presents an opportunity for disruptive innovation in the insurance industry by providing financial assistance and security during the dissolution of marriages.
- Personal Finance and Savings
- The trend of advocating personal finance and savings instead of divorce insurance creates an opportunity for disruptive innovation in the financial planning industry by developing innovative saving strategies and tools for married couples.
- Alternative Approaches to Marriage and Divorce
- The trend of questioning the necessity of both divorce insurance and marriage itself opens up an opportunity for disruptive innovation in the relationship counseling industry by exploring alternative approaches and models for partnerships and separations.
Industries Being Reshaped
- Insurance
- The insurance industry can capitalize on the trend of divorce insurance by developing customizable policies, improved customer experiences, and more comprehensive coverage options for couples going through divorce.
- Financial Planning
- The financial planning industry can leverage the trend of personal finance and saving strategies by creating innovative tools, apps, and services that facilitate financial stability and assist in navigating the financial implications of divorce.
- Relationship Counseling
- The relationship counseling industry can embrace the trend of questioning the necessity of traditional marriage and divorce by offering alternative counseling approaches, support systems, and resources for individuals exploring non-traditional partnership models.
