• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Insurance Cash Value in Califoria Bankruptcy

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.


Junior Member
Hi All, can you tell me how much Cash Value held in a Single Premium Annuity Insurance Policy and in a Whole Life Insurance Policy can be protected during a California Chapter 7 Bankruptcy. Also, how much money can be protected in an IRA. Almost all of my assets are in Insurance but I have a little in an IRA. What is this type of protection called? Thank You and Best Wishes.

Edit on 08/24: I have been looking thought a few bankrupcy sites and I came upon new information that has lead me to an additional question. In California under Bankruptcy System Number 2 they list that $17,425 in Home Stead Real and Personal Property is exempted from Creditors Plus a $925 amount in a Wild Card Exemption. Then in addition under Cash Value held in Life Insurance Policies they list $9,300 as being exempted.

My question is: are these Three Exemptions joinable into One Exemption in order to exempt a total of $27,650 in Whole Life and Annuity Life Insurance Policy Cash Value plus money held in an IRA which is equal to or less than $27,6500? Thanks Again for any info You can provide me with on this.
Last edited:

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential