§30.04 Property and Expectancies Related to Insurance
| Jurisdiction | Washington |
§ 30.04 PROPERTY AND EXPECTANCIES RELATED TO INSURANCE
It is important to distinguish between the three components of most life insurance policies: ownership interest; beneficiary interest; and cash value. An ownership interest in a life insurance policy is property subject to distribution by the court in a dissolution action (although the value of a term policy may be limited to the amount of any prepaid premium). However, a beneficiary interest in a life insurance policy is only an expectancy unless the...
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