§ 26-15-130 — Exemption of proceeds; disability insurance

Except as otherwise provided by the policy or contract, the
proceeds of all contracts of disability insurance and of
provisions specifying benefits because of the insured's
disability, which are supplemental to any life insurance or
annuity contracts executed, are exempt from all liability for
any debt of the insured and from any debt of the beneficiary
existing at the time the proceeds are made available for his
use.