On the death of an insured, any life insurance acquired by the insured or the insured’s spouse and payable to the intestate insured’s estate benefits the surviving spouse and children and the proceeds shall be divided between them according to the statutes of distribution without being in any manner subject to the debts of the […]
Whenever a married person causes life insurance to be effected upon the person’s spouse’s life, it shall in no case be subject to the debts of the insured, but shall inure to the benefit of the surviving spouse and children, or surviving spouse or children, as the case may be; however, any life insurance proceeds […]
The net amount payable under any policy of life insurance or under any annuity contract upon the life of any person made for the benefit of, or assigned to, the spouse and/or children, or dependent relatives of the persons, shall be exempt from all claims of the creditors of the person arising out of or […]
Whenever the insured in a life insurance policy owned by the insured has reserved to the insured the right to change the beneficiary under the policy, the insured has the right to and may assign the policy, to the extent and in the manner permitted by the terms of the policy, as security for a […]
A life insurance company may not accept additional payments under policy provisions that permit deposits to be made in funds that are ancillary to the basic benefits and that are established for the payment of future premiums on individual life policies or annuity contracts, or for the purchase of annuity benefits under the policies or […]
In the case of any life insurance policy with a value of fifteen thousand dollars ($15,000) or less, proof of death may be furnished by submission of a photocopy of the certificate of death, accompanied by a sworn statement by the doctor who signed the certificate or the funeral director who conducted burial services that […]
No insurance company that has been qualified and authorized to do business in this state, pursuant to chapter 2 of this title, shall refuse to issue or deliver any policy of life insurance authorized under chapter 2 of this title, solely by reason of the fact that the person to be insured possesses sickle cell […]
