38.2-3339 - Exemption of group life insurance policies from legal process. - Virginia Statutes

§ 38.2-3339. Exemption of group life insurance policies from legal process.

No group life insurance policy, nor its proceeds, shall be liable toattachment, garnishment, or other process, or to be seized, taken,appropriated, or applied by any legal or equitable process or operation oflaw, to pay any debt or liability of any person insured under the policy, orhis beneficiary, or any other person who has a right under the policy, eitherbefore or after payment. If the proceeds of a group life insurance policy arenot made payable to a named beneficiary, the proceeds shall not constitute apart 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.)