If an insurance premium finance agreement contains a provision whereby the insurance premium finance company may accelerate the maturity of the contract for reasonable cause, other than default of the insured in making payment, and the insurance premium finance company exercises this right, the insurance premium finance company shall credit the insured's account with the amount of unearned finance charge as of the date of acceleration. The insurance premium finance company shall be entitled to collect additional interest under the premium finance agreement, from the date of acceleration at the lawful rate of charge provided in the premium finance agreement for interest after maturity. Likewise, an insurance premium finance company is only entitled to earn and collect interest at the lawful rate stipulated in the premium finance agreement as interest after maturity (or 6.0% per annum as authorized by law) when the insurance premium finance company accelerates the maturity of a premium finance agreement because of the default in payment(s) by the insured.