{"data":{"id":"us-ky/krs-304.29-171","jurisdiction":"us-ky","citation":"KRS 304.29-171","heading":"Beneficiaries.","body":"(1) The owner of a benefit contract shall have the right at all times to change the\nbeneficiary or beneficiaries in accordance with the laws or rules of the society,\nunless the owner waives this right by specifically requesting in writing that the\nbeneficiary designation be irrevocable. A society may, through its laws or rules,\nlimit the scope of beneficiary designations and shall provide that no revocable\nbeneficiary shall have or obtain any vested interest in the proceeds of any certificate\nuntil the certific ate has become due and payable in conformity with the provisions\nof the benefit contract.\n(2) A society may make provision for the payment of funeral benefits to the extent of\nthe portion of any payment under a certificate as might reasonably appear to be due\nto any person equitably entitled thereto by reason of having incurred expense\noccasioned by the burial of the member. The portion so paid shall not exceed the\nsum of ten thousand dollars ($10,000).\n(3) If, at the death of any person insured under a ben efit contract, there is no lawful\nbeneficiary to whom the proceeds shall be payable, the amount of the benefit,\nexcept to the extent that funeral benefits may be paid as provided, shall be payable\nto the personal representative of the deceased insured. If the owner of the certificate\nis other than the insured, the proceeds shall be payable to the owner.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29679","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:52Z","sha256":"0b779e7266c68e3be4043690af1c333bcf69739301c66d970e042dd76106acf4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.29-170","next":"us-ky/krs-304.29-180"},"notice":"GroundRules: Original legal text. Not legal advice."}