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Texas Life Insurance, Annuity, and IRA Exemptions

Life Insurance

Benefits, including the cash value or proceeds, of an insurance policy for the benefit of the insured or a beneficiary under an insurance policy or annuity contract are exempt.  To view this statute, click here.

Annuity

Under the Texas Insurance Code, an annuity is considered “an insurance policy or contract if the annuity contract is issued: (1) by a life, health, or accident insurance company, including a mutual benefit company or a fraternal benefit society; or (2) under an annuity benefit plan used by an employer or an individual.” To view this statute, click here.

IRA

ERISA qualified, including IRAs, Roth IRAs and Keoghs, are exempt.  To see this statute, click here.