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.
Terms Used In Tennessee Code 56-7-202. Insurance on married person's life, effected by spouse, not liable to debts of insured
- Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
- Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See
[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.]