Section 27-15-27 Deductions in determining amount due under life insurance.
Section 27-15-27
Deductions in determining amount due under life insurance.
In determining the amount due under any life insurance policy heretofore or hereafter 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.
(Acts 1971, No. 407, p. 707, §372.)