Divorce insurance

From Florida Divorce Blog, The Divorce Loan Debuts in Japan:

So Japan has innovated a solution - or at least an aid. The Divorce Loan. A relatively low-interest special-purpose loan to divorcing parties. This sounds like a great idea that would catch on here in the States, if given a chance. Especially if the underwriting criteria are flexible enough to accommodate the current circumstances of dependent spouses and needy parents.

Here is a bit more detail from the original article From heart-broken to broke? Japan divorce loan helps:

In Japan, divorcees found responsible for the failure of their marriage -- for example, because of their unfaithfulness -- on average have to pay 4 million yen (17,000 pounds) in compensation to their former partners, according to the Mainichi Newspaper.

Aoki said that in the past, Japanese divorcees have often sought to pay off divorce debts with consumer finance loans or credit card loans, which tend to have annual interest rates of 15-20 percent.

But with the newly launched divorce loan, divorcees can borrow up to 5 million yen, paying a floating interest rate that stood at 5.8 percent on Monday.

I have to say this sounds like a great idea. I say that because at another time in my career I had a rather healthy bankruptcy practice. Too many of those bankruptcies were caused by divorces.