Is Life Insurance Personal Property? 
Life insurance is considered personal property by the owner of the policy . A term life insurance policy has no value other than to the beneficiary at the insureds death . A permanent life insurance policy such as whole life or universal life does have value as personal property to the owner based on the cash value of the policy at a given time . Permanent life insurance policies are listed as a financial asset . If you have group life insurance through your work , the owner of the policy is your employer and therefore has no value to you personally . 