No provision in K.S.A. 40-434 and 40-435 or any other law shall be construed as prohibiting a person whose life is insured
under a policy of group life or accident and health insurance or the policyowner of
an individual life or accident and health policy from making an assignment of all
or any part of his rights and privileges under such policy including specifically,
but not by way of limitation, any right to designate a beneficiary or beneficiaries
thereunder and any right to have an individual policy issued to him in accordance
with subsections (8), (9) or (10) of K.S.A. 40-434 and 40-435. Subject to the terms of the policy relating to assignment of such rights and privileges
thereunder, such an assignment by an insured or the policyowner, made either before
or after the effective date of this section, is valid for the purpose of vesting in
the assignee, in accordance with any provisions included therein as to the time at
which it is to be effective, all of such rights and privileges so assigned, but without
prejudice to the insurer on account of any payment it may make or individual policy
it may issue in accordance with subsections (8), (9) or (10) of K.S.A. 40-434 and 40-435 prior to receipt of notice of the assignment.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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