§ 27-4-26. Interest upon proceeds of life insurance policies.
An insurer of a life insurance contract or annuity contract shall pay to the beneficiary or policyholder, respectively, interest on the proceeds at the rate of nine percent (9%) per annum from the date of the death of an insured or annuitant in connection with a death claim on a life insurance policy or annuity contract and from the date of maturity of an endowment contract to the date of payment and the interest shall be added to and be a part of the total sum paid.
History of Section.P.L. 1984, ch. 343, § 1; P.L. 1987, ch. 78, § 15.
Structure Rhode Island General Laws
Chapter 27-4 - Life Insurance Policies and Reserves
Section 27-4-0.1. - Definitions.
Section 27-4-1. - Discrimination in rates or amounts payable on death.
Section 27-4-1.1. - Denial of applicant based on naloxone prescription.
Section 27-4-2. - Preexisting contracts unaffected by discrimination provisions.
Section 27-4-3. - Distinctions by insurance producers as to collections.
Section 27-4-4. - Penalty for unlawful discrimination.
Section 27-4-5. - Misrepresentation as to policies — Penalty — Revocation of license.
Section 27-4-6.1. - Right to examine and return policy.
Section 27-4-6.2. - Individual life insurance policy standard provisions.
Section 27-4-7. - Privilege against self-incrimination.
Section 27-4-9. - Preexisting contracts unaffected by policy terms provisions.
Section 27-4-10. - Effect of misstatements in application for policy.
Section 27-4-12. - Provision for exemption from encumbrance, transfer, or claims of creditors.
Section 27-4-13. - Deprivation of court jurisdiction — Limitation of actions.
Section 27-4-13.1. - Policy loan interest rates.
Section 27-4-14, 27-4-15. - Repealed.
Section 27-4-16. - Preliminary term policies.
Section 27-4-22. - Assignment of interest under group life insurance.
Section 27-4-22.1. - Continuation of group life insurance — Labor disputes — Involuntary layoffs.
Section 27-4-23. - Rules and regulations.
Section 27-4-24. - Filing of life insurance policy forms.
Section 27-4-24.1. - Waiting period — Effective date of filings.
Section 27-4-24.2. - Notice of disapproval.
Section 27-4-24.3. - Suspension or revocation of licenses.
Section 27-4-24.4. - Hearing on decisions of commissioner.
Section 27-4-24.5. - Judicial review of orders and decisions.
Section 27-4-24.6. - Severability.
Section 27-4-25. - Physical exam by insurance company.
Section 27-4-26. - Interest upon proceeds of life insurance policies.
Section 27-4-27. - Insurable interest.
Section 27-4-28. - Discretionary clauses.