Creditor Protection for Life Insurance and Annuities

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Georgia 100% of the value of an unmatured life insurance contract owned by debtor other than a credit life insurance contract is exempt; debtor’s aggregate interest up to $2,000 in accrued dividend or interest or loan value exempt where insured is debtor or individual on whom debtor is dependent. Proceeds of annuity contract are exempt to the extent reasonably necessary for support of debtor and dependents. Ga. Code Ann. §§ 44-13- 100(a)(2)(E), 44-13- 100(a)(8), 44-13- 100(a)(9), 44-13- 100(a)(11)(c) Hawaii Idaho Proceeds under life insurance contract on an individual of whom debtor was a dependent, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor. 100% of life insurance proceeds payable and the aggregate net cash value payable to a spouse, child, parent or other person dependent upon the insured, shall be exempt from the debts or liabilities of the insured. 100% of life insurance proceeds are exempt for a lawful beneficiary or assignee other than the insured and proceeds are exempt from liability for debts of the beneficiary existing at time policy is made available for beneficiary's use. Same. Haw. Rev. Stat. § 431:10- 232 Up to $1,250/month of benefits, rights, privileges and options under an annuity contract are exempt. Idaho Code §§ 41-1833, 41-1836 16
Illinois Indiana Iowa Kansas 100% of life insurance proceeds payable to a spouse, child, parent, or dependent of the insured are exempt from the debts and liabilities of the insured. If life insurance contract so provides, benefits of the policy payable to one other than the person effecting such contract are exempt from the debts, contracts, or engagements of the beneficiary. Any interest of a spouse, child or dependent not to exceed $10,000 of any interest acquired within two years of date execution is issued or exemptions are claimed; at insured's death, benefits to spouse, child or dependent inure independent of insured's creditors; benefits of all matured policies are exempt from liability for all debts of beneficiary not to exceed $15,000. 100% of life insurance proceeds exempt from claims of the insured's creditors and representatives and the claims of the claims and judgments of the beneficiary's creditors and representatives. Same. 215 Ill. Comp. Stat. § 5/238, 735 Ill. Comp. Stat. § 5/12-1001(h)(3) Same. Ind. Code § 27-2-5-1; 27- 1-12-14 100% of annuity contract proceeds are exempt, except for payments resulting from excessive personal contributions within the previous year and above the normal and customary contributions. Iowa Code § 627.6(b), (8)(e) Same. Kan. Stat. Ann. § 40-414; 6-2313 17
Page 1 and 2: Research Institute of America Group
Page 3 and 4: eneficiary of the policy (rather th
Page 5 and 6: statute refers only to “monies pa
Page 7 and 8: illness, disability, death, age, or
Page 9 and 10: I agree that this statutory exempti
Page 11 and 12: 4. 504 U.S.573 (1992). 5. 11 U.S.C.
Page 13 and 14: State Exemption Table State Name Li
Page 15: District of Columbia Florida Up to
Page 19 and 20: Minnesota Mississippi Missouri Mont
Page 21 and 22: Ohio Oklahoma Oregon Pennsylvania R
Page 23 and 24: West Virginia Wisconsin Wyoming 100

Creditor Protection for Life Insurance and Annuities

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