California Insurance Code 10132 – The beneficiary under a life policy which provides for the payment of …
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The beneficiary under a life policy which provides for the payment of its proceeds in periodical installments, may be restrained by its provisions from disposing of or incumbering his interest in any such installment prior to the date when it becomes due and payable by the insurer.
(Enacted by Stats. 1935, Ch. 145.)
Terms Used In California Insurance Code 10132
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC