When you got divorced from a former spouse, you may assume that the individual is no longer eligible for a survivor benefit on your retirement insurance plan. The problem is that the situation ultimately determines whether that is a true fact or not.

Length of Marriage

The length of the marriage plays a significant role in whether your ex-husband or wife is eligible for survivor benefit on your retirement insurance plan. If you were married for at least 10 years, then he or she may qualify for the benefit in Albany, New York. If you were only married for a year or two, then he or she may not qualify.

The length of the marriage plays a significant role in the determination of benefits because a long-term marriage will usually allow that individual to obtain certain benefits, even if you remarry in the future.

Marriage of the Other Party

If your ex-spouse remarried, then he or she may not qualify for a survivor benefit. A remarriage will tie his or her finances to the new spouse, which allows you to remove the individual from your plan. To qualify for survivor benefits, he or she cannot be currently married at the time it is possible to make withdrawals.

The same is not necessarily true if you are remarried. He or she may still be eligible for a survivor benefit if you were married long enough according to the specific details of your policy and if he or she is still single when it is possible to make withdrawals.

A divorce does not necessarily mean that your coverage does not apply to your ex-spouse. The circumstances surrounding the situation in Saratoga Springs, Schenectady or similar areas within New York will determine the possibilities. To learn more about benefits your ex-spouse may obtain, contact us to speak to an independent agent.