Tennessee § 26-2-110 - Insurance benefits exempt.

§ 26-2-110. Insurance benefits exempt.

There shall be exempt from the claims of all creditors, and from execution, attachment, or garnishment, any sum or sums of money which may hereafter become due and payable to any person, who is a resident and citizen of this state, from any insurance company or other insurer, under the terms and provisions of any contracts of accident, health, or disability insurance insuring the assured against loss by reason of accidental personal injuries, or insuring the assured against loss by reason of physical disability resulting from disease. In the event of the death of any such person so insured as set out in subsection (a), any sum or sums of money so due and payable at the time of the death of the insured shall likewise be exempt from the claims of all creditors and from execution, attachment or garnishment, in the same manner as provided in §§ 56-7-201, 56-7-203. As regards those cases where disability may have begun prior to May 21, 1937, the exemptions granted in subsections (a) and (b) shall apply to installment payments under such contract or contracts of insurance which may become due and payable for such weekly, monthly or other installment term (as determined by the contract of insurance) as may have commenced on or after such date. Acts 1978, ch. 915, §§ 15-17; T.C.A., §§ 26-214 — 26-216. Textbooks. Pritchard on Wills and Administration of Estates (4th ed., Phillips and Robinson), § 636. Tennessee Jurisprudence, 4 Tenn. Juris., Bankruptcy, § 31; 13 Tenn. Juris., Exemptions From Execution and Attachment, §§ 3, 12. Law Reviews. A Review of Tennessee Exemptions in Light of the Bankruptcy Code (Jennie D. Latta) 28 No. 5 Tenn. B.J. 35 (1992). Creditors' Rights and Security Transactions — 1963 Tennessee Survey (Forrest W. Lacey), 17 Vand. L. Rev. 970. Decedents' Estates, Trusts and Future Interests — 1963 Tennessee Survey (Herman L. Trautman), 17 Vand. L. Rev. 1027. Enforcing Money Judgments in Tennessee (Lonnie C. Rich), 4 Mem. St. U.L. 65. Exempt Property in Tennessee under the Bankruptcy Code (Thomas E. Ray), 18 No. 2 Tenn. B.J. 7 (1982). Tennessee's Bankruptcy Exemptions are Valid: Rhodes v. Stewart (Bruce D. Fisher), 19-No. 4 Tenn. B.J. 7 (1983).