Okla. Stat. tit. 36, § 36-4027: Authorized deductions from insurance proceeds

In determining the amount due under any life insurance policy

heretofore or hereafter issued, deduction may be made of:

1. Any unpaid premiums or instalments 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.