2013 Hawaii Revised Statutes
TITLE 24. INSURANCE
431. Insurance Code
431:10D-113 Indebtedness deducted from proceeds.
Cross References
Civil relief for state military forces, see chapter 657D.
Risk-based capital for insurers, see §§431:3-401 to 414.
PART I. INDIVIDUAL LIFE INSURANCE, ANNUITIES
AND PURE ENDOWMENT CONTRACTS
§431:10D-113 Indebtedness deducted from proceeds. In determining the amount due under any life insurance policy issued, deduction may be made of:
(1) Any unpaid premiums or installments thereof for the current policy year due under the terms of the policy, and
(2) The amount of principal and accrued interest of any policy loan or other indebtedness against the policy then remaining unpaid, such principal increased by unpaid interest and compounded as provided in this part. [L 1987, c 347, pt of §2]
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