Can Debtors Take Life Insurance Money?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    If you are the debtor (person owing a debt) and you are the beneficiary of life insurance money, yes you can take the proceeds. They are legally yours. However, your creditors (person or entity lending you the money) may come after your life insurance proceeds and take them from you.
    Answered on July 19, 2013
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