2018 New Mexico Statutes
Chapter 59A - Insurance Code
Article 21 - Group Life Insurance
Section 59A-21-17 - Payment to beneficiary; funeral expenses.
A group life insurance policy shall contain in substance 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, except that where the policy contains conditions pertaining to family status the beneficiary may be the family member specified by the policy terms, 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 thousand dollars ($2,000) 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.
History: Laws 1984, ch. 127, § 414.
Am. Jur. 2d, A.L.R. and C.J.S. references. — What are necessary funeral expenses within coverage of medical payment and funeral expense provision of insurance policy, 87 A.L.R.3d 497.
