KRS 304.29-171: Beneficiaries.

(1) The owner of a benefit contract shall have the right at all times to change the

beneficiary or beneficiaries in accordance with the laws or rules of the society,

unless the owner waives this right by specifically requesting in writing that the

beneficiary designation be irrevocable. A society may, through its laws or rules,

limit the scope of beneficiary designations and shall provide that no revocable

beneficiary shall have or obtain any vested interest in the proceeds of any certificate

until the certific ate has become due and payable in conformity with the provisions

of the benefit contract.

(2) A society may make provision for the payment of funeral benefits to the extent of

the portion of any payment under a certificate as might reasonably appear to be due

to any person equitably entitled thereto by reason of having incurred expense

occasioned by the burial of the member. The portion so paid shall not exceed the

sum of ten thousand dollars ($10,000).

(3) If, at the death of any person insured under a ben efit contract, there is no lawful

beneficiary to whom the proceeds shall be payable, the amount of the benefit,

except to the extent that funeral benefits may be paid as provided, shall be payable

to the personal representative of the deceased insured. If the owner of the certificate

is other than the insured, the proceeds shall be payable to the owner.