HRS §657D-36
Deducting unpaid premiums when a policy matures early
Read the official text at capitol.hawaii.gov ↗If a life insurance policy ends before its protection period is over, the insurance company can take out the unpaid premiums and interest from the payout. The interest rate is the one in the policy for loans, or the rate used in similar policies. The company must tell the insurance commissioner about this deduction.
The statute, as written — Deduction of unpaid premiums upon settlement of policies maturing during protection
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
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.
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