Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.14-070.Power to contract; purchase of insurance by minors

(a) Any contract for annuity or for insurance upon his own life, body, or health, or

(b) Any contract such minor effected upon his own property, liabilities, or other interests, or

(c) Any contract effected or owned by the minor on the person of another,

as might be exercised by a person of full legal age, and may at any time surrender his interest in any such contract and give valid discharge for any benefit accruing or money payable thereunder. Such a minor shall not, by reason of his minority, be entitled to rescind, avoid or repudiate the contract, nor to rescind, avoid or repudiate any exercise of a right or privilege thereunder, except that such a minor not otherwise emancipated, shall not be bound by any unperformed agreement to pay by promissory note or otherwise, any premium on any such annuity or insurance contract.