Life Insurance
Life insurance policies and the proceeds and avails of such policy are exempt, if the annual premium does not exceed $15,000. To see this statute, please click here. A different exemption comes into play if the annual premium exceeds $15,000. To see this statute, please click here. Policies of group life insurance or health insurance and the proceeds thereof payable to the insured and the insured’s beneficiaries are exempt. To see this statute, please click here. Annuity
Subject to limitation, annuity contract proceeds are exempt; if the proceeds are in excess of $350 per month, the excess is subject to claims of creditors. To see this statute, please click here.
IRA
With a $500,000 limitation, ERISA qualified plans are exempt. To see this statute, please click here.
Miscellaneous
Unless otherwise stated, proceeds and avails from health insurance contracts which are supplemental to life insurance or annuity contracts are exempt. To see this statute, please click here. |