§ 26-15-123 — Payment discharges insurer

If the proceeds of or payments under any life or disability
insurance policy or annuity contract are payable in accordance
with the terms of the policy or contract, or the exercise of any
right or privilege thereunder, and the insurer makes payment
thereof in accordance with those terms or in accordance with any
written assignment thereof, the person then designated as being
entitled thereto is entitled to receive the proceeds or payments
and to give full acquittance therefor. The payments fully
discharge the insurer from all claims under the policy or
contract unless, before payment is made, the insurer receives at
its home office written notice by or on behalf of some other
person that the other person claims to be entitled to the
payment or some interest in the policy or contract.