What happens to my life insurance policy if I file for bankruptcy? by West Bend, WI Bankruptcy Attorney
Often clients have a whole life insurance policy, i.e., an insurance policy with a cash surrender value (not a term policy). Under Wisconsin laws, you may keep $150,000 of your cash surrender value when filing for bankruptcy (as long as the contract was issued more than 24-months before filing). Under federal laws, you may keep 100% of the cash surrender value. Contact our office for sound advice on the specific facts of your case.
We serve Wisconsin communities including Germantown, West Bend, Jackson, Hartford, Menomonee Falls, Wauwatosa, Mequon, Cedarburg, Thiensville, Brown Deer, Richfield, Butler, Waukesha and Milwaukee.