§431:10D-113  Indebtedness deducted fromproceeds.  In determining the amount due under any life insurance policyissued, deduction may be made of:

(1)  Any unpaid premiums or installments thereof forthe current policy year due under the terms of the policy, and

(2)  The amount of principal and accrued interest ofany policy loan or other indebtedness against the policy then remaining unpaid,such principal increased by unpaid interest and compounded as provided in thispart. [L 1987, c 347, pt of §2]