Sep 9 (THAINDIAN NEWS) A North Carolina businessman has come out with an insurance package that he claims will help people defray the cost of their divorce. The man - John Logan, is himself a divorcée.



Logan’s insurance company has introduced Wedlock, which is an insurance package that he promises will defray the cost of its members divorce. Currently, statistics from the United States says that between 40 to 50 percent of all first time marriages in the United States ultimately break up and Logan described his own divorce as “world-class ugly”.



Logan in an interview with an ABC television affiliate in Los Angeles said the odds of a marriage breakup are higher than most of the things that people insure against.

 The package is the first of its kind, at least in the United States and it has been so successful that he has expanded to the United Kingdom.



The policy will be the first in United Kingdom also, though there is a similar package called divorce maintenance insurance policy since 1999.

The policy is sold in what the company call “units” of coverage. Each “unit” of coverage cost $16 and it is payable every month. If paid regularly, each unit yields a benefit of $1,250 and customers can buy up to 200 units of coverage, which will be worth $250,000 of coverage.



In order to qualify for the benefit, the marriage should survive for at least 4 years after the marriage is insured.