[§657D-36]  Deduction of unpaid premiums
upon settlement of policies maturing during protection.  In the event of
maturity of a policy as a death claim or otherwise before the expiration of the
period of protection under this part, the insurer in making settlement shall
deduct from the amount of insurance the premiums guaranteed under this part,
together with interest thereon at the rate fixed in the policy for policy
loans.  If no rate of interest is specifically fixed in the policy, the rate
shall be the rate fixed for policy loans in other policies issued by the
insurer at the time the policy brought under this chapter was issued.  The
amount deducted by reason of the protection afforded by this part shall be
reported by the insurer to the insurance commissioner. [L 1994, c 257, pt of
§2]