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27-17-8
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 within the State of Alabama and within a specified distance from
an authorized funeral director or monument dealer of the insurer, the merchandise and services
provided by the policy shall be furnished by such authorized funeral director or monument
dealer upon the request of the beneficiary or other person having authority to make funeral
arrangements. (Acts 1971, No. 407, p. 707, §399.)...
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27-17-7
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 the merchandise and services provided by the policy.
The policy may also provide that the term "authorized funeral director" or "authorized
monument dealer" shall mean a funeral director or monument dealer authorized by the insurer
at the time of the insured's death. (Acts 1971, No. 407, p. 707, §398.)...
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27-17-9
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 outside the State of Alabama or at a greater
distance from an authorized funeral director or monument dealer of the insurer than that specified
in Section 27-17-8, the insurer will, in lieu of furnishing such merchandise and services,
pay a cash benefit of not less than one half of the specified retail value of the merchandise
and services provided in the policy; provided, however, that the insurer may provide for a
reduced benefit as to an insured less than one year of age at death. The policy may contain
a provision for the payment of such cash benefit at the option of the insurer under any other
circumstances where it is impractical for any reason to furnish the merchandise and services
provided by the policy. (Acts 1971, No. 407, p. 707, §400.)...
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27-17A-2
Section 27-17A-2 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) ALTERNATIVE CONTAINER. A nonmetal receptacle or enclosure, without ornamentation
or a fixed interior lining, which is designed for the encasement of human remains and which
is made of cardboard, pressed-wood, composition materials (with or without an outside covering),
or pouches of canvas or other materials. (2) ARRANGEMENT CONFERENCE. The meeting occurring
either at need or preneed between the seller and the purchaser during which funeral or cemetery
merchandise and services are discussed. (3) ARRANGEMENT CONFERENCE FEE. The charge to the
purchaser in conjunction with the arrangement conference. (4) AT NEED. At the time of death,
or immediately following death. (5) AUTHORIZING AGENT. One who is lawfully authorized to control
the final disposition of human remains. (6) BELOW-GROUND CRYPT. A preplaced enclosed chamber,
which is usually constructed of reinforced concrete,...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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27-17-13
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 form of funeral or monument
merchandise and services, the required minimum cash surrender values shall be two thirds of
the cash surrender values which would be required for a cash life insurance policy having
a face amount equal to the cash benefit provided in accordance with Section 27-17-9. (Acts
1971, No. 407, p. 707, §404.)...
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27-17-1
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 which: (1) Benefits are provided in the
form of merchandise and services incident to the burial of the insured or the furnishing of
a monument to the insured; (2) The specified retail value of such merchandise and services
does not exceed $1,500.00; and (3) The words "burial policy," "vault policy,"
"monument policy," or words of similar import are printed on the policy as a part
of its description. (Acts 1971, No. 407, p. 707, §392.)...
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27-15-82
Section 27-15-82 Exceptions. This article shall not apply to any of the following: (1) Reinsurance.
(2) Group insurance. (3) Pure endowment. (4) Annuity or reversionary annuity contract. (5)
Variable life insurance contract. (6) A term policy of uniform amount, which provides no guaranteed
nonforfeiture or endowment benefits, or renewal thereof, of 20 years or less, expiring before
age 71, for which uniform premiums are payable during the entire term of the policy. (7) A
term policy of decreasing amount, which provides no guaranteed nonforfeiture or endowment
benefits, on which each adjusted premium, calculated as specified in Sections 27-15-75, 27-15-76,
27-15-77, and 27-15-78, is less than the adjusted premium so calculated on a term policy of
uniform amount, or renewal thereof, which provides no guaranteed nonforfeiture or endowment
benefits, issued at the same age and for the same initial amount of insurance and for a term
of 20 years or less, expiring before age 71, for which...
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27-17A-10
Section 27-17A-10 Certificate required. (a) No person may sell a preneed contract without first
having a valid certificate of authority. (b)(1) No person may receive any funds for payment
on a preneed contract who does not hold a valid certificate of authority. (2) Any preneed
transaction in which a buyer pays to the seller before need, in whole or in part, a purchase
price for funeral or cemetery merchandise and services, and in which the seller is not obligated
to deliver the contracted for merchandise or to perform the services until need, in whole
or in part, shall be evidenced by a written preneed contract satisfying the requirements of
this chapter and signed by the seller and the purchaser. No person may receive or accept any
form of consideration in such a transaction without a fully signed written preneed contract.
A transaction not evidenced by a signed written preneed contract shall be voidable at the
election of the buyer and, if such election is made, the seller shall...
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27-14-3
Section 27-14-3 Insurable interest - Personal insurance; preneed contracts. (a) Insurable interest
with reference to personal insurance is an interest based upon a reasonable expectation of
pecuniary advantage through the continued life, health, or bodily safety of another person
and consequent loss by reason of his or her death or disability or a substantial interest
engendered by love and affection in the case of individuals closely related by blood or by
law. (b) An individual has an unlimited insurable interest in his or her own life, health,
and bodily safety and may lawfully take out a policy of insurance on his or her own life,
health, or bodily safety and have the same made payable to whomsoever he or she pleases, regardless
of whether the beneficiary so designated has an insurable interest. (c) A corporation, foreign
or domestic, has an insurable interest in the life or physical or mental ability of any of
its directors, officers, or employees, or the directors, officers, or...
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