By Jon Boon - Breaking Celebrity News Reporter

Joe Simpson secretly took out a $4.5 million life insurance policy in daughter Jessica’s name with himself listed as the sole beneficiary, a source tells Breaking Celebrity News exclusively.

The policy was drafted around 8 years ago, the source says, and The Dukes Of Hazzard star and her mom Tina only found out about its existence last week.

Tina’s attorneys at Dunnam & Dunnam were made aware of the policy's existence in a meeting with the Simpsons' business manager, David Levin, and the source says that both Jessica and Tina are "furious" that Joe had done such a thing without the knowledge of either of them.

“Tina found out about yet another one of Joe’s secrets and couldn’t believe what she was hearing,” the source, who is close to the Simpson family, tells Breaking Celebrity News.

“It came out in a meeting with David and her attorneys last week that Joe set up a life insurance policy for Jessica 8 years ago that made him the sole beneficiary.

“It was pointed out to Tina that as Jessica's manager Joe wasn't doing anything underhanded by taking out a policy to protect his biggest income source, but she was absolutely furious that Joe did it without consulting her or Jessica.