§ 38.2-3339. Exemption of group life insurance policies from legal process
No group life insurance policy, nor its proceeds, shall be liable to attachment, garnishment, or other process, or to be seized, taken, appropriated, or applied by any legal or equitable process or operation of law, to pay any debt or liability of any person insured under the policy, or his beneficiary, or any other person who has a right under the policy, either before or after payment. If the proceeds of a group life insurance policy are not made payable to a named beneficiary, the proceeds shall not constitute a part of the insured person's estate for the payment of his debts.
(Code 1950, § 38-432; 1952, c. 317, § 38.1-482; 1986, c. 562.)
Sections: Previous 38.2-3332 38.2-3333 38.2-3334 38.2-3335 38.2-3336 38.2-3337 38.2-3338 38.2-3339 38.2-3340 38.2-3341 38.2-3342 38.2-3343 38.2-3344 38.2-3345 38.2-3346 NextLast modified: April 3, 2009