§ 27-4-26 - Interest upon proceeds of life insurance policies.
SECTION 27-4-26
§ 27-4-26 Interest upon proceeds of lifeinsurance policies. – An insurer of a life insurance contract or annuity contract shall pay to thebeneficiary or policyholder, respectively, interest on the proceeds at the rateof nine percent (9%) per annum from the date of the death of an insured orannuitant in connection with a death claim on a life insurance policy orannuity contract and from the date of maturity of an endowment contract to thedate of payment and the interest shall be added to and be a part of the totalsum paid.