Code of Alabama - Title 27: Insurance - Chapter 17 - Burial Insurance Policies

• Section 27-17-1 Applicability of chapter; "burial insurance" defined
  (a) This chapter applies only to burial insurance policies. (b) For the purposes of this title, "burial insurance" is that form of life insurance under...
• Section 27-17-2 Policy provisions - Generally
  No policy of burial insurance shall be delivered or issued for delivery in this state unless it contains in substance the provisions set forth in...
• Section 27-17-3 Policy provisions - Grace period
  There shall be a provision that the insured is entitled to a grace period of four weeks within which the payment of any premium after...
• Section 27-17-4 Policy provisions - Entire contract; representations
  There shall be a provision that the policy shall constitute the entire contract between the parties or, if a copy of the application is endorsed...
• Section 27-17-5 Policy provisions - Incontestability
  There shall be a provision, with respect to benefits provided in the form of merchandise and services incident to the burial of the insured, that...
• Section 27-17-6 Policy provisions - Reinstatement
  (a) There shall be a provision that the policy may be reinstated at any time within two years after the date of default in the...
• Section 27-17-7 Policy provisions - Authorized funeral director or monument dealer
  There shall be a provision that the insurer has contracted with and appointed an authorized funeral director or monument dealer in this state to furnish...
• Section 27-17-8 Policy provisions - Furnishing of merchandise and services - Generally
  There shall be a provision that if the death of the insured or, if a vault or monument policy, the burial of the insured occurs...
• Section 27-17-9 Policy provisions - Furnishing of merchandise and services - Cash benefit in lieu thereof
  There shall be a provision that if the death of the insured or, if a vault or monument policy, the burial of the insured occurs...
• Section 27-17-10 Policy provisions - Beneficiary
  Each such policy shall have a space for the name of the beneficiary designated with a reservation of the right to designate or change the...
• Section 27-17-11 Policy provisions - Payment of cash benefits
  (a) There shall be a provision that any cash benefit provided by the policy upon the death of the insured will be payable upon receipt...
• Section 27-17-12 Policy provisions - Waiver, etc., of policy terms or conditions
  There shall be a provision that no agent shall have the power or authority to waive, change or alter any of the terms or conditions...
• Section 27-17-13 Policy provisions - Nonforfeiture benefits and cash surrender values
  There shall be provisions for nonforfeiture benefits and cash surrender values as required by Section 27-15-28; except, that, with respect to benefits provided in the...
• Section 27-17-14 Policy provisions - Title
  There shall be a title on the face of the policy briefly describing the same.
• Section 27-17-15 Applicability of other provisions to chapter
  The following provisions of this title shall also apply as to burial insurance policies: (1) Section 27-15-15; (2) Section 27-15-24; (3) Section 27-15-25; (4) Section...
• Section 27-17-16 Valuation of life insurance reserve liabilities for burial insurance policies; increase in amount of insurance; minimum standards for valuation; notice to commissioner as to change in valuation standards; increase in retail value, nonforfeiture value, and cash surrender value; construction with other laws
  (a) Except as hereinafter provided, any authorized insurer who issues or has heretofore issued "burial insurance" in this state shall value the life insurance reserve...

Last modified: May 3, 2021