(a) Any life insurer shall have power to hold payment of proceeds, as shall have been agreed to in writing by the insurer and the insured or beneficiary. The insurer shall not be required to segregate funds so held but may hold them as a part of its general corporate assets.
(b) The provisions of this section shall not impair or affect any rights of creditors under §§ 2725-2728 of this title.
Structure Delaware Code
Chapter 27. THE INSURANCE CONTRACT
Subchapter I. Insurance Contracts Generally
§ 2704. Insurable interest; personal insurance.
§ 2705. Insurable interest; exception when certain institutions designated beneficiary.
§ 2706. Insurable interest; property.
§ 2707. Power to contract; purchase of insurance and annuities by minors.
§ 2708. Consent of insured; life, health insurance.
§ 2709. Alteration of application, life and health insurance.
§ 2710. Application as evidence.
§ 2711. Representations in applications.
§ 2712. Filing, approval of forms.
§ 2713. Grounds for disapproval.
§ 2715. Charter or bylaw provisions.
§ 2716. Execution of policies.
§ 2717. Underwriters' and combination policies.
§ 2718. Validity and construction of noncomplying forms.
§ 2721. Payment discharges insurer.
§ 2722. Forms for proof of loss to be furnished.
§ 2723. Minor may give acquittance.
§ 2724. Claims administration not waiver.
§ 2726. Exemption of proceeds, health insurance.
§ 2727. Exemption of proceeds—Group insurance.
§ 2729. Retention of proceeds of policy by company.
§ 2730. Collection of overpayments by health insurers and health plans.