Vt. Stat. Ann. tit. 8, § 3708 :
CHAPTER 103. Life Insurance Policies and Annuity Contracts
SUBCHAPTER 1. Generally
� 3708 -- Group insurance
(a) A policy of group life insurance or group disability insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder, shall not be liable, either before or after payment, to be applied by any process to pay any debt or liability of such insured individual or his beneficiary or of any other person having a right under the policy. The proceeds thereof, when not made payable to a named beneficiary or to a third person pursuant to a facility-of-payment clause, shall not constitute a part of the estate of the individual insured for the payment of his debts.
(b) This section shall not apply to group insurance issued to a creditor covering his debtors, to the extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.-- 1967, No. 344 (Adj. Sess.), � 1 (ch. 2, subch. 1, � 8).
Last Amended: 1973
1973
Revision note-- In the first sentence of subsec. (a), deleted "legal or equitable" preceding "process" pursuant to 1971, No. 185 (Adj. Sess.), � 236(d) and 1973, No. 193 (Adj. Sess.), � 3. See notes under �� 71 and 219 of Title 4.