Life Insurance and Annuity
Proceeds of a life policy or annuity, when created for the benefit of another, are exempt from creditors. To view this statute, please click here. Money paid or payable to a surviving spouse or child is limited to $20,000 with an additional $5,000 per dependent. To see this statute, please click here.
Any unmatured life insurance contract owned by the debtor under which the debtor is insured or a dependent of the debtor is exempt not exceeding an aggregate amount of $4,000. To view this statute, please click here.
Payments received and future payments under a stock bonus, profit sharing, annuity, individual retirement account, Roth IRA, individual retirement annuity, simplified employee pension or similar plan, or contracts on account of illness, disability, death, age, or length of service are exempt up to $30,000 if necessary for the support of the debtor, debtor’s spouse, or any dependent of the debtor. To view this statute, please click here.
Disability and Health Insurance
The net amount payable to an insured or a beneficiary of the insured is exempt. To see this statute, please click here.