Does The Court Have Jurisdiction Over My Life Insurance Policy? | Friendship Heights Attorney

Video Overview

The court can sometimes have jurisdiction over your life insurance policy in a couple of different ways. There are two main types of life insurance policies: Whole Life policies and Term Life policies.

Term Life policies don’t have any cash value, so courts can’t divide them as there is nothing to split. However, a court could order you to continue making payments on a Term Life policy while the case is pending.

On the other hand, a Whole Life policy has cash value, making it an asset that falls under the court’s jurisdiction. The court can take various actions with that asset, including releasing value to the other spouse if they are entitled to it.