§431:10D-114  Miscellaneous proceeds. 
Upon the death of the insured and except as is otherwise expressly provided by
the policy or premium deposit agreement, a life insurer may pay to the
surviving spouse, children, beneficiary, or person other than the insured's
estate, appearing to the insurer to be equitably entitled to such payment, sums
then held by it and comprising:



(1)  Premiums paid in advance, if such premiums did
not fall due prior to the death, or funds held on deposit for the payment of
future premiums.



(2)  Dividends theretofore declared on the policy and
held by the insurer under the insured's option.



(3)  Dividends becoming payable on or after the death
of the insured. [L 1987, c 347, pt of §2]