Maine § 24-A §2430 Exemption of proceeds, group insurance

Maine Statutes

§ 24-A §2430 — Exemption of proceeds, group insurance

Maine § 24-A §2430

Title 24-AMAINE INSURANCE CODE

Ch. 27THE INSURANCE CONTRACT

This text of Maine § 24-A §2430 (Exemption of proceeds, group insurance) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §2430 (2026).

Text

1.A policy of group life insurance or group health insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder, is not liable, either before or after payment, to be applied by any legal or equitable process to pay any debt or liability of such insured individual or the individual's beneficiary or of any other person having a right under the policy.

2.This section does not apply to group insurance issued pursuant to this Title to a creditor covering the creditor's debtors, to the extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.

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1.
A policy of group life insurance or group health insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder, is not liable, either before or after payment, to be applied by any legal or equitable process to pay any debt or liability of such insured individual or the individual's beneficiary or of any other person having a right under the policy.
2.
This section does not apply to group insurance issued pursuant to this Title to a creditor covering the creditor's debtors, to the extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.