§ 53:5A-22 — Payment of benefits under group policies; nomination of payee

Benefits under such group policy or policies shall be paid by the insurance company to such person, if living, as the insured person shall have nominated by written designation duly executed and filed with the insurance company through the policyholder, otherwise to the executors or administrators of the insured person's estate. An insured person may file with the insurance company through the policyholder and alter from time to time during his lifetime, as desired, a duly attested written nomination of his payee for the death benefit. L.1965, c. 89, s. 22, eff. July 1, 1965. Amended by L.1966, c. 153, s. 13, eff. June 18, 1966.