§ 26-15-106 — Application to be made by individual insured; exceptions

(a) No life or disability insurance contract upon an
individual, except a contract of group life insurance or of
group or blanket disability insurance, shall be made or carried
out unless at the time of the making of the contract the
individual insured, being of competent legal capacity to
contract, applies therefor or has consented thereto in writing,
except:
(i) A spouse may carry out the insurance upon the
other spouse;
(ii) Any person having an insurable interest in the
life of a minor, or any person upon whom a minor is dependent
for support and maintenance, may carry out insurance upon the
life of or pertaining to the minor;
(iii) Family policies may be issued insuring any two
(2) or more members of a family on an application signed by
either parent, a stepparent or by a husband or wife.