{"data":{"id":"us-ky/krs-304.15-150","jurisdiction":"us-ky","citation":"KRS 304.15-150","heading":"Beneficiary, industrial policies.","body":"An industrial life insurance policy shall have the name of the beneficiary designated\nthereon or in the application or other form if attached to the policy, with a reservation of\nthe right to designate or change the beneficiary after the issuance of the po licy, unless\nsuch beneficiary be irrevocably designated. The policy may also provide that no\ndesignation or change of beneficiary shall be binding on the insurer until indorsed on the\npolicy by the insurer, and that the insurer may refuse to indorse the name of any proposed\nbeneficiary who does not appear to the insurer to have an insurable interest in the life of\nthe insured. The policy may also provide that if the beneficiary designated in the policy\ndoes not make a claim under the policy or does not surr ender the policy with due proof of\ndeath within the period stated in the policy, which shall not be less than thirty (30) days\nafter the death of the insured, or if the beneficiary is the estate of the insured, or is a\nminor, or dies before the insured, or  is not legally competent to give a valid release, then\nthe insurer may make any payment thereunder to the executor or administrator of the\ninsured, or to any relative of the insured by blood or legal adoption or connection by\nmarriage, or to any person ap pearing to the insurer to be equitably entitled thereto by\nreason of having been named beneficiary, or by reason of having incurred expense for the\nmaintenance, medical attention or burial of the insured. The policy may also include a\nsimilar provision applicable to any other payment due under the policy.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=17212","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:44Z","sha256":"073a2549202aae3aefc5649cec621bfe2e870e24bcc6dad6edd4ed3085085bb3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.15-140","next":"us-ky/krs-304.15-160"},"notice":"GroundRules: Original legal text. Not legal advice."}