{"data":{"id":"us-ky/krs-304.14-250","jurisdiction":"us-ky","citation":"KRS 304.14-250","heading":"Assignability -- Rights of insurer, assignee.","body":"Except as provided in KRS 304.17A-265, 304.17C-137, and 304.20-105:\n(1) A policy may be assignable or not assignable, as provided by its terms;\n(2) Subject to its terms relating to assignability, a life or health insurance policy,\nregardless of when it was  issued, under the terms of which the beneficiary may be\nchanged upon the sole request of the insured or owner, may be assigned either by\npledge or transfer of title, by an assignment executed by the insured or owner alone\nand delivered to the insurer, whether or not the pledgee or assignee is the insurer;\n(3) Any assignment of a policy which is otherwise lawful and of which the insurer has\nreceived notice shall entitle the insurer to deal with the assignee as the owner or\npledgee of the policy in accordanc e with the terms of the assignment, until the\ninsurer has received at its principal office written notice of the termination of the\nassignment or pledge or written notice by or on behalf of some interest in the policy\nin conflict with the assignment; and\n(4) (a) Any individual insured under a group insurance policy or group annuity\ncontract shall have the right, unless expressly prohibited under the terms of\nthe policy or contract, to assign to any other person his or her rights and\nbenefits under the polic y or contract, including but not limited to the right to\ndesignate the beneficiary or beneficiaries and the rights as to conversion\nprovided for in KRS 304.16-180 to 304.16-200, inclusive.\n(b) While the assignment is in effect, and regardless of when it wa s made, the\ninsurer shall be entitled to deal with the assignee as the owner of the rights\nand benefits in accordance with the terms of the assignment and without\nprejudice to the insurer on account of any lawful action taken or payment\nmade by the insurer  prior to receipt by the insurer at its principal office of\nwritten notice of the assignment or of the termination thereof.\n(c) This subsection acknowledges, confirms, and codifies the existing right of\nassignment of interests under group life insurance policies.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56662","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:43Z","sha256":"fe5f27f798e4e33cc2ffde4665ca61ef23b34658854bbca49124d29286d651f8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.14-240","next":"us-ky/krs-304.14-260"},"notice":"GroundRules: Original legal text. Not legal advice."}