20-1264. Beneficiary
In group life policies there shall be a provision that any sum becoming due by
reason of the death of the person insured shall be payable to the beneficiary designated
by the person insured, subject to the provisions of the policy in the event there is no
designated beneficiary, as to all or any part of such sum, living at the death of the
person insured, and subject to any right reserved by the insurer in the policy and set
forth in the certificate to pay at its option a part of such sum not exceeding two
hundred fifty dollars to any person appearing to the insurer to be equitably entitled
thereto by reason of having incurred funeral or other expenses incident to the last
illness or death of the person insured.
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