§431:10D-307  Beneficiary.  (a)  Each
policy shall have a space on the front or back page of the policy for the name
of the beneficiary designated with a reservation of the right to designate or
change the beneficiary after the issuance of the policy.



(b)  The policy may also provide that no
designation or change of beneficiary shall be binding on the insurer until
endorsed on the policy by the insurer, and that the insurer may refuse to
endorse the name of any proposed beneficiary who does not appear to the insurer
to have an insurable interest in the life of the insured. [L 1987, c 347, pt of
§2]