Friday, 9 December 2011

Matrimonial bliss or matrimonial miss!

The latest statistics from the Office for National Statistics show that the number of divorces in England and Wales is unfortunately on the rise, with an increase of 4.9% from 2009 to 2010.

In real terms the figures have risen from 113,949 divorces in 2009 to 119,589 in 2010, this is equivalent to 11.1 divorcing people per thousand married population.

Alongside this dissolutions of civil partnerships are also increasing with provisional total of 509 in the UK in 2010, an increase of 44% from 2009.

The average age for couples to divorce is between 40 to 44 years old. The 2010 trend also shows that women are more likely to divorce at younger ages and men when they get older. With regards to the average duration of marriages in 2010 the statistics show that it remained steady at 11.4 years.

While no-one planning to get married or enter into a civil partnership wishes to think that things may not work out, nuptial agreements are becoming a popular way for individuals to protect their property and assets if the relationship does break down.

ARAG is now selling two new divorce insurance products – Pre-nuptial Legal Solutions and Divorce Legal Solutions – that are sold alongside nuptial agreements. These products provide a legal expenses insurance policy that starts from the date of a marriage or civil partnership and protects the policyholder against legal costs associated with matrimonial breakdown.

Both policies cover costs arising from a legal challenge to the nuptial agreement whilst Divorce Legal Solutions extends cover to include the cost of divorce proceedings.

Find out more about Pre-nuptial Legal Solutions and Divorce Legal Solutions from the ARAG website.

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