Increasing The Amount Of Life Insurance Money Exempt From Creditors

[…] SB 147 will allow up to $100,000 of life insurance proceeds to be exempt from the insured’s creditors. This law will go into effect on September 1, 2010. Until then, the current cap of $50,000 will apply. 26 states have an unlimited exemption for the protection of life insurance settlements from an insured’s creditors. The new Colorado law will bring the state a little closer to the protections offered to beneficiaries in other states […]