What Does Spendthrift Provision Mean?

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What does Spendthrift Provision mean? Read on to discover the definition & meaning of the term Spendthrift Provision - to help you better understand the language used in insurance policies.

Spendthrift Provision

Spendthrift Provision

Stipulates that, to the extent permitted by law, policy proceeds shall not be subject to the claims of creditors of the beneficiary or policy owner.

We hope the you have a better understanding of the meaning of Spendthrift Provision.

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