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Ohio’s Life Insurance, Annuity, and IRA Exemptions

Life Insurance and Annuities

 

Insurance and annuities are exempt if they benefit the owner’s spouse, children, or any other persons dependent upon the owner of the policy.  The policy may state, the proceeds shall not be subject to transfer, anticipation, communication, or encumbrances by any benefiiciary, and shall not be subject to the claims of the creditors of any beneficiary other than the insured or any legal process against any beneficiary other than the insured.  In the event of fraud the creditor may receive the proceeds. To see this statute, please click here.

IRA

ERISA qualified contracts, plans, or benefits are exempt.  To view this statute, please click here.

Also exempt, are IRA’s, Roth IRA, or education individual retirement account.  To view this statute, please click here.

 

Miscellaneous

Disability financial services are exempt, as exempted by §5115.06 of the Revised Code.  To view this statute, please click here.

Policies of group insurance or the proceeds of a policy of group insurance are exempt, as exempted by §3917.05 the Revised Code.  To view this statute, please click here.