(1) A policy of group life insurance or the proceeds thereof payable to the insured or to a named beneficiary other than the insured, or under a facility-of-payment clause, shall be free of claims from the creditors of the insured or of the beneficiary or of any other payee.\n(2) This section shall not apply to group life insurance issued to debtor groups pursuant to this title, to the extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.\nHistory —Ins. Code § 11.340.
Puerto Rico Legal Code