The exact details are still coming out but Safeguard is looking to sell divorce insurance. This will help you avoid a catastrophic financial metldown if (or when) you get a divorce. If Prop. 8 passes will they sell this insurance to gays as well?
What if every marriage could come with a "Guaranty"?
The idea of Marriage Insurance is not new. In fact, it's roots go back to the very beginnings of insurance in Elizabethan England. As early as 1664, insurance policies were being written on marriages, births and even christenings. Unfortunately, most of these policies were written as a form of wager and England banned the practice in 1712. No form of marriage insurance policy has been written since.
Marriage itself is a forward looking and optimistic event. It’s a time when outlooks all seem bright and dreams are in the making. And historically, marriage has been the cornerstone of civilized society.
The idea that the combined efforts of husband and wife result in an increase in wealth is not only valid, but data from the US National Longitudinal Survey of Youth, which tracks individuals in their 20s, 30s and early 40s, shows that over time married respondents experience per person net worth increases of 93%, nearly double over single respondents. Additionally, their wealth increases on average 16% for each year of marriage.
Today, couples are often marrying later and in many cases, both husband and wife bring more assets and more debt, meaning more complexity into a relationship. Yet no investment vehicle exists today that provides individuals that tirelessly work to maintain a lasting marriage with any financial remuneration or monetary incentive from what anyone would agree sometimes involves unending compromise and hard sacrifices in the quest for marital harmony.
There are few guarantees in life and based on current divorce rates, marriage is certainly not one. Sadly this cornerstone has eroded over time to the point that nearly half of all marriages that take place in westernized societies fail.
Approximately 2.3 million weddings take place in the United States alone each year. Historical data indicates 50% of first marriages ultimately will be dissolved via divorce (according to divorcemagazine.com should your spouse get suspicious if you subscribe to this magazine?) and 60% of remarriages. Of the projected 23 million weddings that will be consummated in the United States between 2006 and 2015, over 11,000,000 of those marriages will likely be legally dissolved in their first 15 years. And because children of divorced parents are three times more likely to get divorced than their counterparts from successful marriages, the US census now estimates that only 33% of couples married today will celebrate their 25th anniversary.
In addition, personal savings is at it's lowest point since the Great Depression. In fact, today the US has the worst personal savings rate of any industrialized nation. Credit card debt has tripled since 1989 to nearly 800 billion in the US alone and Social Security may be at risk of insolvency. As a result, couples today are actively searching for investments that will guarantee a comfortable retirement with high returns and low risk.
There is no company in the world that currently provides insurance coverage against the often devastating financial impact caused by divorce, much less a guaranteed, high return payout for achieving such a milestone as a 25th (Silver) wedding anniversary... until now.
SafeGuard Guaranty Corporation will be the first company in the world to offer an insurance based "Guaranty" on marriages, by providing a highly lucrative investment vehicle to those couples with a loving relationship strong enough to last 25 years and at the same time, providing a financial safety net, in the form of insurance protection against divorce, to those who don't.
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