Cap. 16 Art. 1712JContracts of life insurancetakenout before marriage.

(1) A contract of life insurance taken out by a person who subsequently contracts marriage shall not form part of the community of acquests subject, however, to the right of the other party to the marriage to be credited with a sum equal to half of the premia paid by such person during the marriage when such premia have been paid from community property:

Provided that that person may decide that such policy shall become part of the community of acquests in which case the subsequent articles shall prevail.

(2) Payments of premia during marriage shall be deemed to have been made from community property unless there is evidence to the contrary.

(3) In such cases the policyholder shall be entitled to carry out all acts in relation to such policy and to receive any proceeds thereof, whether on maturity or earlier surrender, without the consent of the other spouse, and the life policy and all proceeds thereof shall be paraphernal property.