Disclosing life insurance in a California property case

What belongs on FL-142 item 10

Every policy, with term coverage distinguished from whole-life, universal-life and other policies that may carry cash value.

Use a description that a second reviewer can match to a statement, title record, contract or the opposing disclosure. Record the value state—known, estimated, unknown, pending or none—instead of treating every empty cell as zero.

The source record for life insurance

• Current policy statement or in-force illustration
• Cash-surrender and loan-value confirmation
• Ownership, insured and beneficiary record
• Premium history and acquisition date

Completeness checks before service

• Confirm every life insurance item has an identifier and custodian or location.
• Tie every amount to an as-of date and retain the source.
• List disputed and unvalued items visibly rather than excluding them.
• Recompute the form totals from the underlying rows and check for duplication.

What moves forward

The ledger entry must preserve its form item, date, value, debt, asserted character and evidence status. That same identity carries into characterization, valuation, negotiation and any final transfer. The death benefit is not the same as cash surrender value. Identify policy loans, surrender charges, tax effects and the effective date of the insurer’s value.

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