SB1106 amends Tennessee law to clarify that insurance proceeds are exempt from creditor claims.
SB1106 amends Tennessee Code Annotated, Title 56, to specify that the net amount payable under life insurance policies or annuity contracts for the benefit of a spouse, children, or dependent relatives is exempt from creditor claims. This change aims to provide clarity and reduce uncertainty for retirees planning for their future in Tennessee. The act takes effect July 1, 2025.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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