Cite as: Keith M. Lundin, Lundin On Chapter 13, § 32.7, at ¶ ____, LundinOnChapter13.com (last visited __________).
Insurance policies are property of the Chapter 13 estate and may have value. Life insurance policies must be described, especially any cash surrender value. Theft and casualty policies are important. Insurance against destruction of an automobile or home and liability insurance have no immediate liquidation value but are essential to demonstrate adequate protection of lienholders1 and to prove the feasibility of a plan. Health insurance should be identified, even if supplied by an employer. Exemptions that may be available for insurance policies must be identified and claimed.2
1 See §§ 48.1 [ Adequate Protection of Lienholders prior to Confirmation ] § 47.1 Adequate Protection of Lienholders before Confirmation, 404.1 [ Adequate Protection before Confirmation ] § 47.2 Preconfirmation Adequate Protection after BAPCPA, 426.1 [ Adequate Protection Rights before Confirmation ] § 57.3 Preconfirmation Adequate Protection Rights after BAPCPA and 449.1 [ “Adequate Protection” after Confirmation ] § 74.15 “Adequate Protection” after Confirmation after BAPCPA.
2 See §§ 25.3 [ Exemption Planning ] § 27.3 Exemption Planning and 49.1 [ Available and Important in Chapter 13 Cases ] § 48.1 Available and Important in Chapter 13 Cases.