Life Insurance Creditor Protection By State [Is Your Cash Value and Death Benefit Covered?] (2024)

Written by Steven Gibbs

| Updated on: January 3, 2024

Table of Contents

• U.S. Map of Bankruptcy and Creditor Protection for Life Insurance
• Asset Protection
• How Do Life Insurance Exemptions Work Against Creditors?
• Life Insurance Exemptions in Bankruptcy
• Federal Exemptions
• Exemption of Life Insurance Death Benefits
• ILIT: Irrevocable Life Insurance Trust
• Survey of State Life Insurance Exemption Laws
• Tables Detailing Life Insurance Creditor Protection and Bankruptcy Protection By State
• Conclusion

U.S. Map of Bankruptcy and Creditor Protection for Life Insurance

Disclaimer: We believe the current map of creditor protections by state is accurate. However, this map is not legal advice and you should consult with an attorney in your state if you have any questions regarding the below information.

Alaska

Exemption Amount (Cash Value): $500,000
Exemption Conditions: Exemption of accrued dividends and loan value exceeding $500,000. Amounts over $500,000 may be attached via court order. AK. Stat. 09.38.025(a). Only certain state exemptions allowed in BK.
Exemption Same for BK and Creditors? Includes cash value exemption.
Exemption of Death Benefits: Beneficiary can exempt proceeds from claims of beneficiary creditors up to $473 per week if debtor is spouse or dependent of insured. AK. Stat. 09.38.30(e)(4).

Arizona

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value exempt if named beneficiary of policy is spouse, close relative, or other dependent family member of insured for uninterrupted period of at least two years. A.R.S. §20-1131(D).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of insured / policy owner cannot attach if beneficiary of policy is not owner or insured individual. A.R.S. §20-1131(A). Proceeds exempt from claims of beneficiary creditors up to $20,000 if beneficiary is insured’s spouse or child. A.R.S. §33-1126(A)(1).

Arkansas

Exemption Amount (Cash Value): Unlimited; $500 if attachment based on contractual claim.
Exemption Conditions: Unlimited exemption set forth by statute restricted by Arkansas Constitution provisions limiting exemption available against contractual claims of creditors to $500. AR. Code 16-66-209; Fed. Sav. & Loan Ins. Co. v. Holt, 894 F.2d 1005 (8th Cir. 1990).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Creditors of insured / policy owner cannot attach if beneficiary of policy is not owner or insured individual. AR. Code §23-79-131(a)(1). Proceeds exempt from claims of beneficiary creditors, except if creditor claim is based on contractual debt, in which case exemption limited to $500. AR. Code §16-66-209.

California

Exemption Amount (Cash Value):$15,650 (may be doubled if debtor is married)
Exemption Conditions:$15,650 exemption against execution pursued by judgment creditor applies to loan value of unmatured policy. Cal. Civ. Pro. §704.100(b).
Exemption Same for BK and Creditors?Yes.
Exemption of Death Benefits:Beneficiary creditors cannot attach proceeds to extent necessary to provide for care of beneficiary or beneficiary’s spouse and/or children. Cal. Civ. Pro. §704.100(c).

Colorado

Exemption Amount (Cash Value): $250,000
Exemption Conditions: Cash surrender value exempt if policy owned by debtor for at least four years. Does not include increases arising from “extraordinary” contributions during prior four years. Co. Stat. §13-54-102(l)(1)(A).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of insured cannot attach if beneficiary of policy is not insured’s estate. Co. Rev. Stat., §13-54-102.

Connecticut

Exemption Amount (Cash Value): $4,000
Exemption Conditions: Cash value exemption if policy owned by debtor and policy insures debtor or individual upon whom debtor is dependent. Ct. Gen. Stat. §52-352b(s).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Creditors of insured cannot attach if beneficiary of policy is not insured’s estate. Ct. Gen. Stat. §38a-453(a)

Delaware

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption available for any assets or amounts held or payable to the debtor under any life insurance policy. Del. Code §10-4915.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt from claims of beneficiary creditors which existed as of time policy proceeds become available to beneficiary. Del. Code §18-2725.

Florida

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value of life insurance policy insuring Florida resident or citizen may not be attached by creditor of insured. Fla. Stat. §222.14
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of insured Florida resident cannot attach if beneficiary of policy is not insured or insured’s estate. Fla. Stat. §222.13.

Georgia

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value of life insurance policy insuring Georgia resident or citizen may not be attached by creditor of insured. O.C.G.A. §33-25-11(c).
Exemption Same for BK and Creditors? Generally, yes. But cash value exemption in bankruptcy capped at $2,000. O.C.G.A. §44-13-100(a)(9)
Exemption of Death Benefits: Creditors of insured Georgia resident cannot attach if beneficiary of policy is not insured or insured’s estate. O.C.G.A. §33-25-11(a).

Hawaii

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption of cash value if beneficiary is insured’s spouse, child, parent, or dependent. Haw. Rev. Stat. §431:10-232.
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions)
Exemption of Death Benefits: Creditors of insured cannot attach death benefits. Haw. Rev. Stat. §431:10-232.

Idaho

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption of cash value of policy owned by debtor, except value attributable to premiums paid in six months prior to bankruptcy filing or attachment. ID Code §11-605.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of insured cannot attach if beneficiary of policy is not insured or insured’s estate. Creditors of beneficiary other than insured cannot attach. ID Code §41-1833.

Illinois

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption of cash value if beneficiary is insured’s spouse, child, parent, or dependent. 735 ILCS 5/12-1001
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of beneficiary dependent upon insured cannot attach to extent proceeds necessary for support. 735 ILCS 5/12-1001.

Indiana

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption of cash value if payable to insured’s spouse, child, parent or dependent. Ind. Code §27-1-12-14(e). Exemption excludes attachment of premium paid within one year of attachment or bankruptcy filing. Ind. Code §27-1-12-14(f).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of insured cannot attach if beneficiary of policy is insured’s spouse, child, parent, or dependent. Ind. Code §27-1-12-14(e). If policy issued by domestic life insurance company prohibits assignment of benefits, creditors of beneficiary cannot attach proceeds unless beneficiary paid for policy. Ind. Code §27-2-5-1.

Iowa

Exemption Amount (Cash Value): Unlimited, except to extent cash value increases from payments made in last two years exceed $10,000.
Exemption Conditions: Complete exemption of cash value if payable to insured’s spouse, child, parent or dependent. Exemption limited to $10,000 in value acquired during prior two years. Exemption excludes premiums paid over necessary premiums during past two years. Iowa Code §627.6(6).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of insured cannot attach if beneficiary of policy is insured’s spouse, child, or dependent. Iowa Code §627.6(6). Proceeds exempt up to $15,000 from creditors of beneficiary if spouse, child, or dependent. Iowa Code §627.6(6)(c).

Kansas

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption if beneficiary has insurable interest and policy not issued within past year. KS Stat. §40-414(a).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of insured and creditors of beneficiaries cannot attach if beneficiary has insurable interest. KS Stat. §40-414(a).

Kentucky

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Money or benefit under insurance policy cannot be attached for payment of any debt or liability of policyholder. Ky. Stat. §427.110(1).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions). Creditors of insured or owner cannot attach if beneficiary is not insured or owner.
Exemption of Death Benefits: Creditors of beneficiary as of pay-out date cannot attach. Ky. Stat. §427.110(1).

Louisiana

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value exempt from claims of creditors of insured or owner of policy. La. Rev. Stat. §22:912(A)(1). Limited to $35,000 if policy issued less than nine months prior to judgment execution or bankruptcy filing. La. Rev. Stat. §22:912(A)(2).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Death benefits exempt against claims of creditors of insured, owner of policy, and beneficiaries as of time proceeds available to beneficiary. La. Rev. Stat. §22:912(A)(1).

Maine

Exemption Amount (Cash Value): $4,000
Exemption Conditions: Cash value exemption limited to $4,000; available if debtor is insured or person on whom insured is dependent. 14 M.R.S. §1422(11).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Creditors of insured / owner cannot attach if beneficiary is not insured / owner or estate. Creditors of beneficiary cannot attach to the extent claims exist at time proceeds of policy become available to beneficiary. 24-A M.R.S. §2428(2).

Maryland

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash Value is exempt against claims of creditors of insured if beneficiary of policy is insured’s spouse, child, or other dependent relative. Md. Ins. Code §16-111(a). Exemption does not include dividends if debtor elects to accept dividends in cash. Md. Ins. Code §16-111(b).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Death benefits exempt against claims of creditors of insured if beneficiary of policy is insured’s spouse, child, or other dependent relative. Md. Ins. Code §16-111(a). Policy proceeds exempt from claims of beneficiary’s creditors. Md. Courts & Jud. Pro. §11-504(b)(2).

Massachusetts

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value is exempt if beneficiary’s interest in proceeds would be exempt (i.e., beneficiary has “insurable interest”). 175 Mass. Code §125; see also In re Sloss, 279 B.R. 6 (2002).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions). Proceeds exempt from claims of insured’s creditors if has insurable interest. 175 Mass. Code §125. Exempt from beneficiary creditors if policy prohibits assignment or attachment, or if beneficiary is spouse. 175 Mass. Code §119A, 126.
Exemption of Death Benefits:

Michigan

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value fully exempt from insured’s creditors if beneficiary has insurable interest. Mich. Comp. Laws §500.2207(2).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Policy proceeds exempt from claims of insured’s creditors. Mich. Comp. Laws §500.2207.

Minnesota

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: $9,600 Cash value exemption if insured is debtor or individual upon whom debtor is dependent. Minn. Stat. §550.37(23).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Policy proceeds exempt against claims of insured’s creditors if beneficiary is not insured / owner. Minn. Stat. §61A.12(1). Exempt up to $48,000 against claims of beneficiary creditors if beneficiary is spouse or child. Exemption amount increased by $12,000 for each dependent of beneficiary. Minn. Stat. §550.37(10).

Mississippi

Exemption Amount (Cash Value): Unlimited, unless over $50,000 paid into policy within 12 months.
Exemption Conditions: Cash value exempt against claims of insured’s creditors if insured is not beneficiary. Exemption limited to $50,000 for value attributable to policy payments made within 12 months prior to attachment or bankruptcy. MS Code §85-3-11.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt against claims of insured’s creditors if beneficiary is not insured. MS Code §85-3-11

Missouri

Exemption Amount (Cash Value): Unlimited. $150,000 in bankruptcy.
Exemption Conditions: Cash value exempt from claims of insured / owner if beneficiary is insured or person upon whom insured is dependent. MO Stat. 513.430(8). Exemption not available in bankruptcy if policy purchased within one year prior to bankruptcy filing.
Exemption Same for BK and Creditors? No. Exemption of cash value limited to $150,000 in bankruptcy proceedings.
Exemption of Death Benefits: Proceeds exempt against claims of creditors of insured and beneficiary. MO. Stat. §377.330.

Montana

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value completely exempt against claims of owner’s creditors. Mt. Code § 25-13-608(k).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt against claims of creditors of insured / owner and beneficiaries. Mt. Code §33-15-511.

Nebraska

Exemption Amount (Cash Value): $100,000
Exemption Conditions: Cash value exempt up to $100,000 against claims of insured’s creditors if beneficiary is not insured or insured’s estate. Neb. Stat. §44-371(1)(a) and (b).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt against claims of insured’s creditors if beneficiary is not insured or insured’s estate; exempt against beneficiary’s creditor’s if beneficiary is related to the insured by blood or marriage. Neb. Stat. §44-371(1)(a).

Nevada

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value in life insurance policy completely exempt from execution. N.R.S. 21.090(1)(k).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt against claims of insured’s creditors if beneficiary is not insured or insured’s estate; exempt against claims of beneficiary’s creditor’s existing at time proceeds become available. N.R.S. §687B.260.

New Hampshire

Exemption Amount (Cash Value): Not provided under state law.
Exemption Conditions: Cash value exemption not provided under New Hampshire law. See N.H. Stat. §511:02.
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Proceeds exempt against claims of insured’s creditors if beneficiary is not insured / owner and has insurable interest. N.H. Stat. §408:02. Proceeds exempt from claims of beneficiary’s creditors if beneficiary is married woman. N.H. Stat. §408:01.

New Jersey

Exemption Amount (Cash Value): Unclear
Exemption Conditions: Similar Massachusetts statute has been interpreted as allowing complete exemption if beneficiary is third party and beneficiary’s interest in death benefit would be exempt.
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Proceeds exempt against claims of creditors of insured and/or owner if beneficiary is not insured, owner, or insured / owner’s estate and has insurable interest. N.J. Stat. § 17B:24-6.

New Mexico

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value of policy insuring NM citizen or resident is completely exempt from creditor attachment. NM Stat. §42-10-3.
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Proceeds exempt from claims of creditors of insured (if NM citizen / resident) or beneficiary – unless contract expressly provides for payment of debts through policy. N.M. Stat. §§ 42-10-3, 42-10-5.

New York

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption of accelerated death benefits, cash surrender and/or loan value, and dividends against claims of policyowner’s creditors. N.Y.C.L., Ins. §3212(b)(6). Exemption inapplicable if debtor actually receives cash loan value and has full control over funds. Tanges v. Schonbrun, 196 N.Y.S.2d 381 (Nassau County Supreme 1959)
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt against claims of creditors of insured and/or owner if beneficiary is not insured, owner. N.Y.C.L., Ins. §3212(b)(1). Proceeds exempt against claims of beneficiary’s creditors if beneficiary is spouse of insured. N.Y.C.L., Ins. §3212(b)(2).

North Carolina

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption if beneficiary is insured’s spouse and/or children. N.C. Gen. Stat. §58-58-95.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Lawful beneficiaries have right to proceeds as against creditors of policyowner / insured unless beneficiary is insured or insured’s estate. N.C. Gen. Stat. §§58-58-95, 58-58-115.

North Dakota

Exemption Amount (Cash Value): $8,000
Exemption Conditions: Exemption if owner is insured and beneficiary is spouse, children, or other dependent relative. N.D. Code §26.1-33-36.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Exempt from claims of insured’s creditors. If payable to decedent, decedent’s heirs, or estate, proceeds considered as general assets of estate, which may be transferred by insured via will or contract. N.D. Code §26.1-33-40.

Ohio

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption if beneficiary is insured’s spouse and/or children, dependent relative, charity, or creditor, or trust for benefit thereof. Ohio Code §3911.10.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Exempt from claims of insured’s creditors if beneficiary is insured’s spouse and/or children, dependent relative, charity, or creditor, or trust for benefit thereof. Ohio Code §2329.66(A)(6)(b).

Oklahoma

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption from claims of insured’s creditors. Okla. Stat. §36-3631.1
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Policy proceeds exempt from claims of creditors of insured or beneficiaries. Okla. Stat. §36-3631.1.

Oregon

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption if beneficiary is not insured’s estate. ORS §743.046(3).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt from claims of insured’s creditors if beneficiary is not policyowner. ORS §743.046(1).

Pennsylvania

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption if beneficiary is insured’s spouse, child, or dependent relative of insured. 42 Pa. Stat. §8124(c)(6).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Proceeds exempt from claims of insured’s creditors if beneficiary is spouse, child, or dependent relative of insured. 42 Pa. Stat. §8124(c)(6).

Rhode Island

Exemption Amount (Cash Value): Unclear
Exemption Conditions: Similar Massachusetts statute has been interpreted as allowing complete exemption if beneficiary is third party and beneficiary’s interest in death benefit would be exempt.
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Proceeds exempt from claims of owner’s and insured’s creditors if beneficiary is not insured or estate. RI Gen. L §27-4-11. Proceeds exempt from beneficiary’s creditors if policy provides for non-assignment. RI Gen. L. §27-4-12.

South Carolina

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption if beneficiary is insured’s spouse, children, or dependents, and policy purchased more than two years before bankruptcy. S.C. Code §38-63-40. (However, In re Sims, 421 B.R. 745 (2010), holds that exemption only applies following insured’s death, in what appears to be minority interpretation of similar statutory language). $4,000 exemption if debtor is insured, or if beneficiary is spouse, children, dependent and policy purchased within two years prior. S.C. Code §15-41-30(9).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt from insured’s creditors if beneficiary is insured’s spouse, children, or dependents, and policy purchased more than two years before bankruptcy. S.C. Code §38-63-40.Proceeds up to $50,000 exempt from claims of insured’s creditors if beneficiary is spouse, child, or dependent of insured. S.C. Code §38-65-90.

South Dakota

Exemption Amount (Cash Value): $20,000
Exemption Conditions: Exemption from insured’s creditors unless agreement assigns value of policy to creditor(s). S.D.C.L. §58-12-4.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt from insured’s creditors up to $20,000 if beneficiary is spouse, or children. S.D.C.L. §58-12-4. Proceeds exempt from insured’s and beneficiary’s creditors up to $10,000 if payable to estate. S.D.C.L. §43-45-6.

Tennessee

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption if beneficiary is insured’s spouse, child, or dependent relative of insured. Tenn. Stat. §56-7-203.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt from insured’s creditors if beneficiary is insured’s spouse, child, or dependent relative of insured. Tenn. Stat. §56-7-203. Proceeds exempt from insured’s creditors if beneficiary is estate and estate benefits surviving spouse and children. Tenn. Stat. §56-7-201.

Texas

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value of insurance policies completely exempt from attachment by creditors or in bankruptcy. Tex. Ins. Code §1108.51.
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds completely exempt from creditors of beneficiary or insured except if premiums paid to avoid creditors, policy is contractually assigned, or debt involves child support. Tex. Ins. Code §1108.51.

Utah

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Cash value fully exempt, excluding payments to policy for one year prior to execution or bankruptcy. Utah Code §78B-5-505(1)(a)(xiii).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt from insured’s creditors if beneficiary is spouse or child of insured and policy purchased more than one year prior. Proceeds exempt from beneficiary’s creditors if beneficiary is spouse or child of insured. Utah Code §78B-5-505(1)(a)(xi) and (xii).

Vermont

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption of cash value except in case of credit life insurance. 12 Vt. Stat. §1740(18).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Proceeds exempt against claims of insured’s creditors if beneficiary is not insured or estate. 8 Vt. Stat. §3706. Proceeds exempt from beneficiary’s creditors if beneficiary was dependent on insured as of date of death, to extent necessary for support. 12 Vt. Stat. §1740(19)(H).

Virginia

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption of cash value from creditors of insured and policyowner. Va. Code §38.2-3122(1) and (3).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Proceeds exempt from claims of insured or owner’s creditors. Va. Code §38.2-3122(1). Exempt from claims of beneficiary creditors if beneficiary is insured, owner, insured’s spouse, child, or other dependent. Va. Code §38.2-3122(2).

Washington

Exemption Amount (Cash Value): Not provided under state law for insured or policyowner.
Exemption Conditions: Exemption does not apply to insured’s interests in policy. R.C.W. §48.14.410(3)(a).
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions)
Exemption of Death Benefits: Proceeds exempt against claims of insured’s creditors if beneficiary is not insured or estate. Exempt from beneficiary’s creditors in existence at time funds become available. R.C.W. §48.14.410(1).

West Virginia

Exemption Amount (Cash Value): $8,000
Exemption Conditions: Bankruptcy exemption of cash value, dividends if insured is debtor or person on whom debtor is dependent. W.Va. Code §38-10-4(h). No specific creditor exemption for life insurance cash value.
Exemption Same for BK and Creditors? No. Bankruptcy W.Va. Code §38-10-4; attachment W.Va. Code §38-8-1.
Exemption of Death Benefits: Proceeds exempt against claims of insured / owner’s creditors if beneficiary is not insured or estate. W.Va. Code §33-6-27(a). Exempt from beneficiary’s creditors if dependent on insured, up to amount necessary for care and support. W.Va. Code §38-10-4(k)(3).

Wisconsin

Exemption Amount (Cash Value): $150,000
Exemption Conditions: Exemption applies if debtor is policyowner and policy insures debtor, debtor’s dependent, or person upon whom debtor is dependent. Wisc. Stat. 815.18(3)(f). Exemption limited to $4,000 if policy issued less than two years prior to attachment or bankruptcy date. Id.
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Proceeds exempt against claims of beneficiary’s creditors if policy insured individual upon whom debtor was dependent. Wisc. Stat. 815.18(3)(i).

Wyoming

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption as long as beneficiary is not policyowner. Wy. Stat. §26-15-129(a). Exemption extended to cash value as long as beneficiary is third party in In re Vigil, 74 Fed.Appx. 19 (10th Cir. 2003).
Exemption Same for BK and Creditors? Yes.
Exemption of Death Benefits: Complete exemption as long as beneficiary is not policyowner. Wy. Stat. §26-15-129(a). Exemption extended to cash value as long as beneficiary is third party in In re Vigil, 74 Fed.Appx. 19 (10th Cir. 2003).

District of Columbia

Exemption Amount (Cash Value): Unlimited
Exemption Conditions: Complete exemption of any unmatured life insurance policy owned by debtor except policy intended to pay debts of debtor. D.C.A. §15-501
Exemption Same for BK and Creditors? Yes. (Bankruptcy debtors may alternatively select federal exemptions).
Exemption of Death Benefits: Creditors of insured / policy owner cannot attach if beneficiary has insurable interest and is not owner or insured individual. D.C.A. §31-4716. Proceeds exempt from claims of beneficiary creditors if dependent of insured and necessary for support. D.C.A. §15-501.