Life insurance - 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. Acts 1959, No. 148, § 335; A.S.A. 1947, § 66-3326. 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. Acts 1959, No. 148, § 335; A.S.A. 1947, § 66-3326.