What is the current value of my life insurance policy?

Your bankruptcy forms are a snapshot in time regarding the current value of your property, including financial assets like life insurance policies. By definition, all life insurance policies have a certain amount that is paid out upon death. That is not the same thing as the policy's current value.

Term life insurance policies typically have a value of $0 and the insured (you) can't withdraw or borrow against it. 

Whole and universal life insurance policies typically have a certain cash value that grows over time. For more information about the different types of life insurance policies, please click here.