KRS 299.150: Insurable age -- Insurable interest -- Change of beneficiary.

(1) No company shall issue a policy upon the life of any person more than sixty (60)

years of age, but in case of the transfer or reinsurance of members as provided in

KRS 299.210 the foregoing limit of age shall not apply to members who have

reached sixty (60) years since their membership began.

(2) No company shall issue a policy upon any life in which the beneficiary named has

no interest, and any assignment of a policy to a person having no interest in the

insured life shall be void.

(3) A policyholder may at any time, with the consent of the company, make a change in

his beneficiary, without the consent of the beneficiary.