People who are recently divorced or widowed must carefully consider options for health and life insurance, such as whether to leave a death benefit on deposit with the insurance company, where it might earn a higher interest rate than at a bank but is not protected by federal bank insurance. Recently widowed or divorced people may elect to pay for continued health coverage through a spouse for up to 36 months under COBRA, but shopping around for a new policy might be less expensive. The suddenly single person may also benefit from a disability or long-term-care policy.

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