HB 17-1093

House Bill 17-1093 increases the amount of money that people can keep safe from creditors when it comes to life insurance cash value. Currently, if you have had a life insurance policy for at least 48 months, up to $100,000 in its cash value is protected from being taken by creditors. The bill raises this protection limit to $250,000. This change helps individuals who have built up significant cash value in their life insurance policies over time and need financial security. Since the bill has been signed into law, it is now active and provides this increased protection for policyholders.

Official Summary

Under current law, the cash surrender value of life insurance held by a debtor for 48 months or longer up to $100,000 is exempt from attachment or execution. The bill increases this exemption up to $250,000. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Votes