RCW 48.18.430
Exemption of proceeds, commutation—Annuities.
(1) The benefits, rights, privileges, and options under any annuity contract that are due the annuitant who paid the consideration for the annuity contract are not subject to execution and the annuitant may not be compelled to exercise those rights, powers, or options, and creditors are not allowed to interfere with or terminate the contract, except:
(a) As to amounts paid for or as premium on an annuity with intent to defraud creditors, with interest thereon, and of which the creditor has given the insurer written notice at its home office prior to making the payments to the annuitant out of which the creditor seeks to recover. The notice must specify the amount claimed or the facts that will enable the insurer to determine the amount, and must set forth the facts that will enable the insurer to determine the insurance or annuity contract, the person insured or annuitant and the payments sought to be avoided on the basis of fraud.
(b) The total exemption of benefits presently due and payable to an annuitant periodically or at stated times under all annuity contracts may not at any time exceed three thousand dollars per month for the length of time represented by the installments, and a periodic payment in excess of three thousand dollars per month is subject to garnishee execution to the same extent as are wages and salaries.
(c) If the total benefits presently due and payable to an annuitant under all annuity contracts at any time exceeds payment at the rate of three thousand dollars per month, then the court may order the annuitant to pay to a judgment creditor or apply on the judgment, in installments, the portion of the excess benefits that the court determines to be just and proper, after due regard for the reasonable requirements of the judgment debtor and the judgment debtor's dependent family, as well as any payments required to be made by the annuitant to other creditors under prior court orders.
(2) The benefits, rights, privileges, or options accruing under an annuity contract to a beneficiary or assignee are not transferable or subject to commutation, and if the benefits are payable periodically or at stated times, the same exemptions and exceptions contained in this section for the annuitant apply to the beneficiary or assignee.
(3) An annuity contract within the meaning of this section is any obligation to pay certain sums at stated times, during life or lives, or for a specified term or terms, issued for a valuable consideration, regardless of whether or not the sums are payable to one or more persons, jointly or otherwise, but does not include payments under life insurance contracts at stated times during life or lives, or for a specified term or terms.
[ 2011 c 162 § 4; 2005 c 223 § 10; 1949 c 190 § 25; 1947 c 79 § .18.43; Rem. Supp. 1949 § 45.18.43.]
Structure Revised Code of Washington
Chapter 48.18 - The Insurance Contract.
48.18.020 - Power to contract.
48.18.030 - Insurable interest—Personal insurances—Nonprofit organizations—Rules.
48.18.040 - Insurable interest—Property insurances.
48.18.050 - Named insured—Interest insured.
48.18.060 - Application—Consent—When required.
48.18.070 - Alteration of application.
48.18.080 - Application as evidence.
48.18.090 - Warranties and misrepresentations, effect of.
48.18.100 - Forms of policies—Filing, certification, and approval—Exceptions.
48.18.110 - Grounds for disapproval.
48.18.130 - Standard provisions.
48.18.140 - Contents of policies in general.
48.18.150 - Additional contents.
48.18.160 - Charter or bylaw provisions.
48.18.170 - "Premium" defined.
48.18.180 - Stated premium must include all charges.
48.18.190 - Policy must contain entire contract.
48.18.200 - Limiting actions, jurisdiction.
48.18.210 - Execution of policies.
48.18.220 - Receipt of premium to bind coverage—Contents of receipt.
48.18.230 - Binders—Duration—Premium.
48.18.240 - Binders—Insurance producer's or title insurance agent's liability.
48.18.250 - Underwriters' and combination policies.
48.18.260 - Delivery of policy.
48.18.280 - Renewal of policy.
48.18.290 - Cancellation by insurer.
48.18.2901 - Renewal required—Exceptions.
48.18.291 - Cancellation of private automobile insurance by insurer—Notice—Requirements.
48.18.295 - RCW 48.18.290 through 48.18.297 not to prevent cancellation or nonrenewal, when.
48.18.296 - Contracts to which RCW 48.18.291 through 48.18.297 inapplicable.
48.18.297 - Private passenger automobile defined.
48.18.298 - Disability insurance—Refusal to renew by insurer.
48.18.299 - Disability insurance—Cancellation by insurer.
48.18.300 - Cancellation by insured.
48.18.310 - Cancellation by commissioner.
48.18.320 - Annulment of liability policies.
48.18.340 - Dividends payable to real party in interest.
48.18.350 - Breach of warranty prior to loss—Effect.
48.18.360 - Assignment of policies—Life and disability.
48.18.370 - Payment discharges insurer—Life and disability.
48.18.375 - Assignment of interests under group insurance policy.
48.18.390 - Simultaneous deaths—Payment of proceeds—Life insurance.
48.18.400 - Exemption of proceeds—Disability.
48.18.410 - Exemption of proceeds—Life.
48.18.420 - Exemption of proceeds—Group life.
48.18.430 - Exemption of proceeds, commutation—Annuities.
48.18.440 - Spouse's rights in life insurance policy.
48.18.450 - Life insurance payable to trustee named as beneficiary in the policy.
48.18.452 - Life insurance designating as beneficiary a trustee named by will.
48.18.460 - Proof of loss—Furnishing forms—May require oath.
48.18.470 - Claims administration—Not waiver.
48.18.480 - Discrimination prohibited.
48.18.510 - Validity of noncomplying forms.
48.18.520 - Construction of policies.
48.18.540 - Cancellations, denials, refusals to renew—Written notification.
48.18.543 - Single premium credit insurance—Residential mortgage loan—Restrictions—Definitions.
48.18.547 - Underwriting restrictions that apply to medical malpractice insurance—Rules.
48.18.553 - Victims of hate crime offenses—Restrictions of underwriting actions—Definitions.
48.18.555 - Property insurance—Actions resulting from arson or malicious mischief—Definitions.
48.18.565 - Homeowner's insurance—Foster parent.
48.18.570 - Life insurance—Lawful travel destinations.
48.18.580 - Employer-owned life insurance—Requirements.
48.18.583 - Employer-owned life insurance—Application to policies.
48.18.586 - Employer-owned life insurance—Rules.
48.18.600 - Usage-based insurance—Restrictions on information collected.
48.18.610 - Customer satisfaction benefits.
48.18.900 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.