Worried that your Mr. or Mrs. Right may turn out to be Mr. or Mrs. All Wrong? Then you may want to consider divorce insurance before you seek divorce advice in Pasadena. That's right. Now in addition to coverage for your car and your home you can now buy a policy to protect you in case of a divorce.

The policy, entitled WedLock and cooked up by North Carolina's SafeGuard Guaranty Corp., is intended to help customers cover the costs of divorce. The costs of moving, setting up a new home or apartment and legal proceedings are all covered by WedLock. The casualty insurance is sold in units of protection; each unit you buy for $15.99 per month provides $1,250 in coverage. For example, 10 units purchased would yield coverage of $12,500. As a bonus, the company adds $250 in coverage for each unit every year. So if divorce did unfortunately happen, policyholders would send WedLock proof of their divorce and then receive a lump sum of cash equal to the amount of coverage they had purchased.

Naturally, the folks at WedLock also have come up with ways to protect themselves from insurance fraud. The policies don't mature until 48 months after their effective date. Customers can, however, buy additional riders to shrink the maturity time to 36 months and to receive their premiums if they divorce before the policy matures. SafeGuard officials are confident in their risk assessment studies to combat couples buying up policies in large numbers.

Financial experts say that putting money away in a savings account would mature faster and with better interest than divorce insurance, while being significantly lower-risk. WedLock policies are underwritten by Prime Insurance Company and aren't protected by any state guaranty funds that would honor them if the company goes bankrupt. However, SafeGuard says that they are working to get the policies covered by state guaranty funds in the future.

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