Any husband or father has the right to insure his life for the benefit of his wife and child(ren). When the beneficiaries receive this benefit, this benefit passes to them free from claims of the insured’s creditors. To view this statute, click here.
Subject to the terms and restrictions on the life or endowment policy and the annuity contract, the proceeds of such policy and contract are exempt from creditors. To view this statute, click here.