56-7-202 - Insurance on married person's life, effected by spouse, not liable to debts of insured.
56-7-202. Insurance on married person's life, effected by spouse, not liable to debts of insured.
Whenever a married person causes life insurance to be effected upon the person's spouse's life, it shall in no case be subject to the debts of the insured, but shall inure to the benefit of the surviving spouse and children, or surviving spouse or children, as the case may be; however, any life insurance proceeds payable to the testate estate shall pass under the dispositive provisions of the will, but shall not be subject to the debts of the deceased spouse unless specifically charged with the debts in the will.
[Code 1858, § 2479 (deriv. Acts 1845-1846, ch. 216, § 3); Shan., § 4232; mod. Code 1932, § 8457; Acts 1969, ch. 234, § 1; T.C.A. (orig. ed.), § 56-1109.]