Aegon has warned that protection propositions need to be flexible to help divorcing couples cope financially as new figures revealed that mid-life divorces are increasing.
Office of National Statistics (ONS) figures revealed that the number of divorces of couples in their mid-forties and upwards is increasing, and in 2014 6.5% of the population were widowed, compared to 8.2% who are divorced.
Dougy Grant, protection director at Aegon said: "With rising divorce rates, it's vital that the protection needs of the family aren't overlooked."
He added: "It goes without saying that emotions tend to run high during a break up and a messy divorce can cloud people's judgement.
"But, with at least one child aged under 16 living with the family in half of all divorces, it's vital that practical financial planning isn't overlooked. Financial security and peace of mind need to come before the point scoring of feuding ex-partners.
"After the divorce there can often be a new family to factor in, which would mean twice the financial commitment. If the main breadwinner's income was to stop through a period of ill health or even death, it could leave two families struggling to cope financially."
Grant also said that the needs of any non-earning parents also need to be looked at.
He said: "If the parent who stays at home to look after the children could no longer do so due to death or illness, this would have financial implications for the working former spouse. Even those without any dependants, may have mortgages, debt, or a lifestyle they would like to maintain for which protection could be vital.
"When buying protection it's worthwhile ensuring that the proposition is flexible enough to deal with changes in circumstances such as divorce."
Subject to certain criteria
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