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Code · Kentucky · Chapter 299 — Assessment or cooperative insurance

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

117 words·~1 min read·/ky/chapter-299/299-150

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