Does Life Insurance Count As An Asset? 
The face amount of a life insurance policy does not count as an asset ; the cash value of the life insurance policy may count as an asset . Therefore , Term life insurance is not counted as an asset because there is no cash value . If there is cash value built up in Whole or Universal Life , that cash value may be counted as an asset , depending on the situation . If you are the beneficiary of a life insurance payout , the amount you receive usually is not counted as an asset . There are conditions where it might be , but not generally . 