Is Life Insurance Exempt From Creditors?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    If the creditor is going after money owed by the insured person who passed away, the life insurance is exempt from creditors if the beneficiary of the policy was a person. Creditors cannot take the life insurance proceeds from a beneficiary unless the beneficiary co-signed the debt with the insured person, or has debts of their own for which creditors are seeking payment.
    Answered on July 16, 2013
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