INSURANCE & SURVIVOR BENEFITS UNDER NEW YORK STATE LAW

Another provision of the “Equitable Distribution Law” is that the Court now has the power to order either party to purchase, maintain or assign a health and hospital and related services policy of Insurance for either spouse or children and likewise, can require a life insurance policy.

However, the duration of the term of such policies may not exceed the duration of the term that maintenance, child support or payment of a distributive award is ordered for health and hospital insurance and most likely also for life Insurance, although the language of the law is not clear on this latter point.

The court also has the power to force a spouse to designate a “survivor” option on a pension plan.