2-008.07A4 Whole Life Insurance

468 NAC 2-008.07A4

The cash surrender value of life insurance is exempt from resources.

The following are also exempt:

  1. Term insurance and other similar policies that do not accrue any cash value;
  2. Burial insurance; and
  3. Life insurance policies where the proceeds are irrevocably assigned for the purpose of burial.

See 468 NAC 2-008.07A3b Resources for the treatment of burial insurance.


2-008.07A4a Interest and Dividends