Is Life Insurance Exempt From Creditors In Connecticut?
.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Life insurance is exempt from creditor in Connecticut if the beneficiary on the policy is not the estate. If the insured person passes away with debt, and the proceeds of his/her policy goes to the estate (either because the policy was set up that way, or because the beneficiaries are no longer living), then the life insurance money will go through probate, where creditors can go after it. If the beneficiary is a person, they cannot take it away from that person.Answered on August 31, 2013flag this answer
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482Provided that you have named a primary beneficiary in your Life policy, then yes, the proceeds from that policy, upon your death, would pass directly to your beneficiary without any trouble from creditors. In addition to naming a beneficiary, it is also a very good idea to name a contingient beneficiary who would receive the proceeds if the primary benficiary cannot, for some reason, receive them.Answered on September 3, 2013flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
