Colorado § 10-7-705 - Insured's own life.
Full text of Colorado Colorado Revised Statutes § 10-7-705 — Insured's own life., with citation guidance and answers to common questions.
§ 10-7-705. Insured's own life.
An individual has an insurable interest in the individual's own life, and an individual of competent legal capacity who procures or effects a policy on the individual's own life may designate any person as the beneficiary and, unless the individual elects an irrevocable beneficiary designation, change the beneficiary at any time thereafter.
Source: L. 2011: Entire part added, (SB 11-182), ch. 227, p. 975, § 1, effective May 27.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-7-705
What does Colorado Revised Statutes § 10-7-705 cover?
Section 10-7-705 ("Insured's own life.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 10-7-705?
A common citation format is "Colorado Revised Statutes § 10-7-705" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 10-7-705 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.