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If the annuities are in an IRA, then it's exempt from bankruptcy seizure (Col. Revised Statutes 13-54-102(1)(s)).
But, once you take the money out, it's not exempt anymore, so you can't touch it until after you file for bankruptcy.
The answer was posted above in this thread. If you need clarification, feel free to ask.
An annuity is an insurance contract where the buyer pays money to the insurer in return for the insurer providing a future income payment.
An IRA is a tax-preferred governmentally approved arrangement whereby a person can save money for retirement without paying taxes until the money is withdrawn (or, in the case of a "Roth" IRA, grows tax-free after the initial contribution is deposited).
An annuity can be purchased inside of an IRA, or outside. If it's purchased inside, it's exempt from bankruptcy seizure. If it's purchased outside, then it's not exempt, generally.
You say that you're trying to "secure" some money that you received from a life insurance policy. You could contribute that money to an IRA so as to protect it, but there are limits to the amount that you contribute in any year. So, if you are contemplating bankruptcy, then there may not be enough time to protect all of the money, depending upon where you put it.
If you own your own home and have less than $125,000 in equity, then you could contribute up to the amount that would create that amount of equity, and that money would also be safe.
Or, you could move to Texas or Florida, and purchase a home, and whatever money you put into the home will be exempt from a bankruptcy action.
If you are really concerned, and it appears that you are, then you may want to consider getting a consultation with a local bankruptcy attorney. The initial consult is generally free, so you have nothing to lose.
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