§ 26-15-133 — Retention of proceeds of policy by company

(a) Any life insurer may hold the proceeds of any life or
endowment insurance or annuity contract it issues:
(i) Upon the terms and restrictions as to revocation
by the insured and control by beneficiaries;
(ii) With the exemptions from legal process and the
claims of creditors of beneficiaries, other than the insured;
and
(iii) Upon any other terms and conditions, regardless
of the time and manner of payment of proceeds, agreed to in
writing by the insurer and the insured or beneficiary.
(b) The insurer is not required to segregate funds held
under subsection (a) of this section but may hold them as a part
of its general corporate assets.
(c) The provisions of this section do not impair or affect
any rights of creditors under W.S. 26-15-129 or 26-15-132.