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Committee clears bill to clarify creditor exemptions for life insurance and annuity payouts
2674438 · March 18, 2025
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Summary
The Commerce and Labor Committee unanimously approved Senate Bill 11 06 to clarify that life insurance and annuity payments designated for beneficiaries are exempt from creditors' claims, and to specifically list enforcement methods that are excluded.
The Commerce and Labor Committee voted unanimously to move Senate Bill 11 06 out of committee. The bill, carried by Senator Kyle, would clarify that Tennessee Code section 50-6-7203's exemption for amounts payable under life insurance and annuity contracts extends to all claims of creditors and explicitly lists methods of…
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