Term
Life Insurance.
–Most policies that are provided by your employer are
term policies. That is to
say, you will not have the insurance once you stop working for your employer. As such, these
policies do not have any
“fair market value”. Put in $0 for “fair market value” and $0 for “equity”. Of course,
you still want to designate
who gets the policy and who has the policies in the last two columns.
–Sometimes, however, couples buy term insurance for a variety of reasons. Again, getting a copy of the policy
and showing it to your
attorney if you are in doubt will help you complete this section.
