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§ 83-7-5. Proceeds of policy not subject to judicial process or assignment while in hands of company

MS Code § 83-7-5 (2019) (N/A)
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If, under the terms of any annuity contract, or policy of life insurance, or under any written agreement supplemental thereto issued by any life insurance company, the proceeds are retained by such company at maturity or otherwise, no person entitled to any part of such proceeds, or any installments of interest due or to become due thereon, shall be permitted to commute, anticipate, encumber, alienate, or assign the same, or any part thereof, if such permission is expressly withheld by the terms of such contract, policy, or supplemental agreement. If such contract, policy, or supplemental agreement so provides, no payment of interest or of principal shall be in any way subject to such person’s debts, contracts, or engagements, nor to any judicial processes to levy upon or attach the same for payment thereof. No such company shall be required to segregate such funds, but may hold them as a part of its general corporate funds.

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§ 83-7-4. Proceeds of policy; effect of payment when made by insurer or contract issuer in accordance with terms of policy or contract
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§ 83-7-6. Proceeds of policy become due as of date of death of insured; insurers admitted to transact life insurance in Mississippi required to pay interest on proceeds of certain policies; computation of interest; applicability