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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 18831
Experience:  B.A.; M.B.A.; J.D.
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I pay for life insurance but it has no cash value...do i need

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I pay for life insurance but it has no cash value...do i need to claim that as exempt on my bankruptcy? If so what exemption do i use? State of missouri bankruptcy
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I pay for life insurance but it has no cash value...do i need to claim that as exempt on my bankruptcy? If so what exemption do i use? State of missouri bankruptcy



Response:
If your life insurance has no cash value, then there is nothing to exempt under Schedule C. However, you must still list it under Schedule B, Personal Property. Generally, you would exempt insurance benefits under Missouri Statutes Sections 377.090, 377.330.



I have also answered another question for you and I am not sure that you would see it because you have more than seven posts open at this time and my question is under a different username. Here is the link to my previous response to you:



http://www.justanswer.com/bankruptcy-law/7rioo-.html






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