If you don't insure the stream of support payments your spouse agreed to in your settlement package, and he or she gets hit by a car tomorrow and dies, you're out of luck. And tragically, so are your children. Have your attorney insist on guaranteeing the stability of agreed upon payments with insurance policies. The policies should be in your possession, because if your spouse falls behind in the premiums and lets the policies lapse, it's as good as not having them in the first place. The insurance should also cover possible disability, since if your ex is injured or becomes ill and can't work, you're unlikely to be receiving any money towards support and other financial obligations.