Ky. Rev. Stat. § 304.14-085

Current through Acts Received April 24, 2024

Section 304.14-085 - Violation of insurable interest for person without insurable interest to pay premiums on life insurance in exchange for ownership in death benefit

Except as provided in KRS 304.14-050, it shall be a violation of insurable interest for any person or entity without insurable interest to provide or arrange for the funding ultimately used to pay premiums, or the majority of premiums, on a life insurance policy and, at policy inception, have an arrangement for such person or entity to have an ownership interest in the majority of the death benefit of that life insurance policy.

KRS 304.14-085

Effective:7/15/2008
Created 2008, Ky. Acts ch. 32, sec. 10, effective7/15/2008.