CALIFORNIA FAMILY LAW
...Community Property Issues
......Specific Assets
.........Life Insurance/Annuities
............Term Life Insurance/Annuities
 12 Cards On This Topic:
  • Summary of Law: Characterization and division of employment-related term life insurance policies.
  • The characterization of term life insurance proceeds depends on multiple factors, including whether the policy contains certain contractual provisions, and the insurability of the insured spouse.
  • Term life insurance policy not c/p asset beyond expiration of term acquired with c/p efforts, absent enforceable right to compel renewal.
  • Court may order H to name W as beneficiary of his s/p annuity.
  • Term policy has value only if cannot be replaced at same cost.
  • W has interest in H's term life insurance policy at time of divorce which was enforceable 13 years after divorce.
  • Value term life insurance policy at replacement cost or at sum of c/p premiums paid.
  • Award of H's term life insurance to W justified, in part, by former Civil Code section 4801.4 [replaced by Fam. Code §4360].
  • Term policy has no recognizable value.
  • Apportion death benefits based on premiums paid.
  • Life insurance proceeds and pension death benefits: Employee has power to give half of c/p portion to named beneficiary, but not other spouse's half.
  • ERISA plan administrator correctly construed H's beneficiary form to require equal distribution to W, daughter and mother, even though Cal. c/p law would support contrary interpretation.


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