Washington § 48.23.310 Deduction of indebtedness.

Washington Statutes

§ 48.23.310 — Deduction of indebtedness.

Washington § 48.23.310

Title 48INSURANCE

Ch. 48.23LIFE INSURANCE AND ANNUITIES

This text of Washington § 48.23.310 (Deduction of indebtedness.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 48.23.310 (2026).

Text

In determining the amount due under any life insurance policy heretofore or hereafter 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 of

(2)the amount of principal and accrued interest of any policy loan or other indebtedness against the policy then remaining unpaid, such principal increased by unpaid interest and compounded as provided in this chapter.

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In determining the amount due under any life insurance policy heretofore or hereafter 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 of

(2) the amount of principal and accrued interest of any policy loan or other indebtedness against the policy then remaining unpaid, such principal increased by unpaid interest and compounded as provided in this chapter.