Does a life insurance policy count as a tangible asset?

A life insurance policy is a financial asset, but it is not typically considered a tangible asset. A tangible asset is a physical asset that has a value and can be touched or seen. Examples of tangible assets include real estate, vehicles, furniture, equipment, and inventory. These assets have a value that can be appraised, and they can be sold or used as collateral to secure loans. In contrast, a life insurance policy is a financial asset that provides a death benefit to the policyholder's beneficiaries upon their death. The policy's cash value, if applicable, may also be accessed during the policyholder's lifetime through policy loans or withdrawals. However, the policy itself is not a physical asset that can be touched or seen. That being said, a life insurance policy can still be an important part of a person's overall financial plan and estate planning strategy. It can provide financial protection to the policyholder's loved ones in the event of their death, and it can also be used as a tool for estate planning, such as to help cover estate taxes or to provide a legacy to heirs. In summary, a life insurance policy is not typically considered a tangible asset because it is a financial asset that does not have a physical form that can be touched or seen. However, it can still be an important part of a person's overall financial plan and estate planning strategy.