Sec. 1. 24-A MRSA §2556 is enacted to read:

§2556.__Spousal beneficiaries

A person who was previously married or in a domestic relationship may cancel a life insurance policy in that person's name that was purchased by the person's spouse or domestic partner during the marriage or domestic relationship.

SUMMARY

This bill allows a formerly married person or former domestic partner to cancel a life insurance policy in that person's name that was purchased by the person's former spouse or domestic partner during the marriage or domestic relationship.