CO HB1093

Increases the exemption for cash surrender value of life insurance policies from $100,000 to $250,000 for writs of attachment or execution issued against the insured.

Exemption applies only to policies or certificates owned continuously for 48 months or more prior to issuance of the writ.

Excludes from exemption any increases in cash value resulting from extraordinary contributions made to the policy during the 48 months before the writ is issued.

Effective September 1, 2017, subject to referendum petition approval by voters in November 2018 if challenged within 90 days after legislative adjournment.

Applies to writs of attachment or execution ordered on or after the applicable effective date.