§ 2729 — Retention of proceeds of policy by company

(a) Any life insurer shall have power to hold payment of proceeds, as shall have been agreed to in writing by the insurer and the insured or beneficiary. The insurer shall not be required to segregate funds so held but may hold them as a part of its general corporate assets.

(b) The provisions of this section shall not impair or affect any rights of creditors under §§ 2725-2728 of this title.

Legislative History

18 Del. C. 1953, § 2729; 56 Del. Laws, c. 380, § 1