In Re DeRosear

OPINION

LARRY LESSEN, Bankruptcy Judge.

The issue before the Court is whether the Debtors may claim three life insurance policies which insured the lives of Debtors’ adult children as exempt pursuant to 735 ILCS 5/12 — 1001(f).

The Debtors, Perry and Marcia DeRo-sear, filed a petition pursuant to Chapter 7 of the Bankruptcy Code on October 3, 2000. At the time of the filing, Mr. DeRo-sear owned three policies of life insurance which insured the lives of his adult children, Gina DeRosear (age 19), Corey DeR-osear (age 23), and Jason DeRosear (age 24). The three policies were issued by State Farm…