MS HB974

Amends Mississippi Code Section 91-29-23 to clarify that automatic revocation of an ex-spouse as life insurance beneficiary applies to all designations made by or on behalf of decedents who died on or after July 1, 2026

Life insurance beneficiary designations naming a spouse become ineffective upon divorce or annulment unless the divorce decree specifically names the ex-spouse as beneficiary, the insured redesignates them after divorce, or the proceeds are held in trust for children or dependents

When an ex-spouse designation becomes ineffective, proceeds are paid to any named alternative beneficiary or, if none exists, to the insured's estate

Insurers are protected from liability if they pay an ex-spouse before receiving written notice at their home office that the designation is ineffective, or if they interplead the proceeds into court

Sponsored by Representative Mangold and referred to the Judiciary A Committee during the 2026 Regular Session