Annuity, reversionary annuity or pure endowment contracts. Proceeds exempt, §33-28-7. 1161 INDEX GARNISHMENT —Cont’d Exemption. Annuity, reversionary annuity or pure endowment contracts. Proceeds, §33-28-7. Life insurance policies and annuity contracts. Cash surrender value and proceeds, §33-25-11. Fraternal benefit societies.