Massachusetts Insurance Exemptions
Filing for Chapter 7 bankruptcy can be a confusing and stressful time in your life. Almost everyone will experience financial difficulty at some point in time, and if it gets out of control, you may feel as if you have nowhere or no one to turn to. One common misconception with bankruptcy is that once you file, you lose all of your personal property. In reality, Massachusetts state law has many exemptions in place to help you protect your assets in the event of a bankruptcy filing.
One such exemption is for insurance and it covers a wide range of policies that you need to protect yourself and your family. To fight for every exemption for which you are eligible, you need an experienced legal representative working with you throughout the bankruptcy process. Contact the Boston bankruptcy lawyers of Joshua Spirn & Associates today at 800-975-5346 to schedule an initial consultation.
Common Insurance Exemptions
There are many insurance policies that are protected in the event that someone files for Chapter 7 bankruptcy in the state of Massachusetts. These include:
- Disability benefit insurance up to $400 a week
- Annuity policy proceeds
- Group life insurance
- Life insurance annuity contract
- Life insurance if the beneficiary is a married woman
- Fraternal society benefits
- Medical malpractice insurance
If you are worried about keeping your insurance in the face of a bankruptcy filing, contact an experienced attorney today.
Contact Us
For more information on bankruptcy exemptions available in the state of Massachusetts, contact the Boston bankruptcy lawyers of Joshua Spirn & Associates today at 800-975-5346.
