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25-5-270
Section 25-5-270 Certain employers authorized to purchase insurance with optional deductibles.
(a) Each insurer issuing a policy under this article shall offer, as a part of the policy
or as an optional endorsement to the policy, deductibles optional to the policyholder for
benefits payable under this article. Deductible amounts offered shall be fully disclosed to
the prospective policyholder in writing in the amount of $100.00, $200.00, $300.00, $400.00,
$500.00, or increments of $500.00 up to a maximum of $2,500.00 per compensable claim. The
policyholder exercising the deductible option shall choose only one deductible amount. (b)
If the policyholder exercises the option and chooses a deductible, the insured employer shall
be liable for the amount of the deductible for benefits paid for each compensable claim of
work injury suffered by an employee. The insurer shall pay all or part of the deductible amount,
whichever is applicable to a compensable claim, to the person or medical...
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27-19-103
Section 27-19-103 Definitions. Unless the context requires otherwise, the definitions
in this section apply throughout this article. (1) APPLICANT. In the case of: a. An
individual long-term care insurance policy, the person who seeks to contract for benefits.
b. A group long-term care insurance policy, the proposed certificate holder. (2) CERTIFICATE.
Any certificate issued under a group long-term care insurance policy, which policy has been
delivered or issued for delivery in this state. (3) COMMISSIONER. The Alabama Commissioner
of Insurance. (4) GROUP LONG-TERM CARE INSURANCE. A long-term care insurance policy which
is delivered or issued for delivery in this state and issued to any of the following: a. One
or more employers or labor organizations, or to a trust or to the trustees of a fund established
by one or more employers or labor organizations, or a combination thereof, for employees or
former employees or a combination thereof, or for members or former members or a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-103.htm - 9K - Match Info - Similar pages
27-15-72
Section 27-15-72 Nonforfeiture benefits. (a) In the case of policies issued on or after
January 1, 1972, no policy of life insurance, except as set forth in Section 27-15-82,
shall be delivered or issued for delivery in this state unless it shall contain in substance
the following provisions, or corresponding provisions which, in the opinion of the commissioner,
are at least as favorable to the defaulting or surrendering policyholder as are the minimum
requirements specified in this section and are essentially in compliance with Section
27-15-81: (1) That, in the event of default in any premium payment, the insurer will grant,
upon proper request not later than 60 days after the due date of the premium in default, a
paid-up nonforfeiture benefit on a plan stipulated in the policy, effective as of such due
date, of such amount as may be specified in this article. In lieu of such stipulated paid-up
nonforfeiture benefit, the insurer may substitute, upon proper request not later than 60...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-72.htm - 4K - Match Info - Similar pages
27-19-105
Section 27-19-105 Regulations for long-term care policies; outline of coverage, policy
summary, and monthly report. (a) The commissioner may adopt regulations that include standards
for full and fair disclosure setting forth the manner, content, and required disclosures for
the sale of long-term care insurance policies, terms of renewability, initial and subsequent
conditions of eligibility, nonduplication of coverage provisions, coverage of dependents,
preexisting conditions, termination of insurance, continuation or conversion, probationary
periods, limitations, exceptions, reductions, elimination periods, requirements for replacement,
recurrent conditions, and definitions of terms. Regulations under this subsection should recognize
the developing and unique nature of long-term care insurance and the distinction between group
and individual long-term insurance policies. (b) No long-term care insurance policy may do
any of the following: (1) Be cancelled, nonrenewed, or otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-105.htm - 11K - Match Info - Similar pages
27-20-7
Section 27-20-7 Blanket disability insurance - Payment of benefits. All benefits under
any blanket disability policy shall be payable to the person insured, or to his employer,
or to his designated beneficiary or beneficiaries or to his estate; except, that if the person
insured be a minor or mental incompetent, such benefits may be made payable to his parent,
guardian, or other person actually supporting him, or, if the entire cost of the insurance
has been borne by the employer, such benefits may be made payable to the employer; provided,
however, that the policy may provide that all, or any portion, of any indemnities provided
by such policy on account of hospital, nursing, medical, or surgical services may, at the
insurer's option, be paid directly to the hospital or person rendering such services; but
the policy may not require that the service be rendered by a particular hospital or person.
Payment so made shall discharge the insurer's obligation with respect to the amount of...
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40-18-310
Section 40-18-310 Definitions. As used in this article, the following terms shall have
the following meanings: (1) CATASTROPHE SAVINGS ACCOUNT. A regular savings account or money
market account established by an insurance policyholder who is a state income taxpayer for
residential property in this state to cover an insurance deductible under an insurance policy
for the taxpayer's legal residence property that covers hurricane, rising floodwaters, or
other catastrophic windstorm event damage or by an individual to cover self-insured losses
for the taxpayer's legal residence from a hurricane, rising floodwaters, or other catastrophic
windstorm event. The account must be labeled as a catastrophe savings account in order to
qualify as a catastrophe savings account as defined in this article. A taxpayer may establish
only one catastrophe savings account and shall specify that the purpose of the account is
to cover the amount of insurance deductibles and other uninsured portions of risks of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-310.htm - 1K - Match Info - Similar pages
27-19-22
Section 27-19-22 Optional policy provisions - Relation of earnings to insurance. (a)
There may be a provision as follows: "Relation of Earnings to Insurance: If the total
monthly amount of loss of time benefits promised for the same loss under all valid loss of
time coverage upon the insured, whether payable on a weekly or monthly basis, shall exceed
the monthly earnings of the insured at the time disability commenced or his average monthly
earnings for the period of two years immediately preceding a disability for which claim is
made, whichever is the greater, the insurer will be liable only for such proportionate amount
of such benefits under this policy as the amount of such monthly earnings or such average
monthly earnings of the insured bears to the total amount of monthly benefits for the same
loss under all such coverage upon the insured at the time such disability commences and for
the return of such part of the premiums paid during such two years as shall exceed the pro
rata...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-22.htm - 2K - Match Info - Similar pages
25-5-8
Section 25-5-8 Employers' options to secure payment of compensation. (a) Option to insure
risks. An employer subject to this chapter may secure the payment of compensation under this
chapter by insuring and keeping insured his or her liability in some insurance corporation,
association, organization, insurance association, corporation, or association formed of employers
and workers or formed by a group of employers to insure the risks under this chapter, operating
by mutual assessment or other plans or otherwise. Notwithstanding the foregoing, the insurance
association, organization, or corporation shall have first had its contract and plan of business
approved in writing by the Commissioner of the Department of Insurance of Alabama and have
been authorized by the Department of Insurance to transact the business of workers' compensation
insurance in this state and under the plan. Notwithstanding any other provision of the law
to the contrary, the obligations of employers under law for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-8.htm - 14K - Match Info - Similar pages
27-15-78
Section 27-15-78 Calculations of adjusted premiums by the nonforfeiture net level premium
method. (a) This section shall apply to all policies issued on or after the operative
date of this section as defined herein. Except as provided in subsection (g), the adjusted
premiums for any policy shall be calculated on an annual basis and shall be such uniform percentage
of the respective premiums specified in the policy for each policy year, excluding extra premiums
on a substandard policy and also excluding any uniform annual contract charge or policy fee
specified in the policy in a statement of the method to be used in calculating the cash surrender
values and paid-up nonforfeiture benefits, that the present value, at the date of issue of
the policy, of all adjusted premiums shall be equal to the sum of: (1) The then present value
of the future guaranteed benefits provided for by the policy. (2) One percent of either the
amount of insurance, if the insurance be uniform in amount, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-78.htm - 12K - Match Info - Similar pages
27-47-2
Section 27-47-2 Deduction for premiums paid for long-term care insurance contract; treatment
of contract; coverage. (a) The premiums paid for a long-term care insurance contract are deductible
pursuant to Section 40-18-15, if the contract meets the following requirements: (1)
Offers coverage only for qualified long-term care services and benefits incidental to the
coverage. (2) Guaranteed renewal. (3) No cash surrender value. (4) All refunds of premiums
and all policyholder dividends or similar amounts under the contract are to be applied as
a reduction in future premiums or to increase future benefits, except for a refund of premiums
on surrender or cancellation of the policy. (b) For purposes of this chapter, a long-term
care insurance contract shall be treated as an accident or health insurance contract. The
amount of coverage under the long-term care insurance contract shall be equal to or greater
than Medicaid coverage for a period of at least three years. (c) An insurance...
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