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27-15-9
Section 27-15-9 Life insurance policy provisions - Table of values and benefits. In
policies issued on and after the operative date of Section 27-15-28, there shall be
a table showing in figures the loan value and the cash surrender values and nonforfeiture
benefits in accordance with subdivision (b) (5) of Section 27-15-28, either during
the first 20 policy years or during the term of the policy, whichever is shorter. (Acts 1971,
No. 407, p. 707, §354.)...
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27-19-108
Section 27-19-108 Promulgation of rules and regulations. The commissioner shall issue
reasonable regulations to promote premium adequacy and to protect the policyholder in the
event of substantial rate increases, and to establish minimum standards for marketing practices,
agent compensation, agent testing, penalties, and reporting practices for long-term care insurance.
(Act 2000-795, p. 1876, §5.)...
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27-15-80
Section 27-15-80 Proration of values; net value of paid-up additions. Any cash surrender
value and any paid-up nonforfeiture benefit available under the policy in the event of default
in a premium payment due at any time other than on the policy anniversary shall be calculated
with allowance for the lapse of time and the payment of fractional premiums beyond the last
preceding policy anniversary. All values referred to in Sections 27-15-73, 27-15-74, 27-15-75,
27-15-76, 27-15-77, and 27-15-78 may be calculated on the assumption that any death benefit
is payable at the end of the policy year of death. The net value of any paid-up additions,
other than paid-up term additions, shall not be less than the amounts used to provide such
additions. Notwithstanding the provisions of Section 27-15-73, additional benefits
payable as follows shall be disregarded in ascertaining cash surrender values and nonforfeiture
benefits required by this article, and no such additional benefits shall be...
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27-19-109
Section 27-19-109 Penalties. In addition to any other penalties provided by the laws
of this state, any insurer and any agent found to have violated any requirement of this state
relating to the regulation of long-term care insurance or the marketing of this insurance
shall be subject to a fine of up to three times the amount of any commissions paid for each
policy involved in the violation or up to ten thousand dollars ($10,000), whichever is greater.
(Act 2000-795, p. 1876, §5.)...
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11-104-2
Section 11-104-2 Definitions. As used in this chapter, the following terms shall have
the following meanings: (1) DEPENDENTS. The spouse, children, or other dependents of the retired
employee, as defined by and covered under the documents governing the governmental entities'
benefit plans that provide post-employment benefits. (2) EMPLOYEE. Any person who is an employee
of any governmental entity located in the state who may become eligible for post-employment
benefits from the governmental entity. (3) EMPLOYER. Any governmental entity that sponsors,
in whole or in part, post-employment benefits. (4) FISCAL YEAR. The annual period at the end
of which a governmental entity determines its financial condition. (5) GASB. The Governmental
Accounting Standards Board. (6) GOVERNMENTAL ENTITY. Any political subdivision of the state,
any department, agency, board, commission, or authority of any such political subdivision,
or any public corporation, authority, agency, instrumentality, board,...
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27-34-25
Section 27-34-25 Paid-up nonforfeiture benefits, cash surrender values, and certificate
loans, etc. (a) A society may grant paid-up nonforfeiture benefits, cash surrender values,
certificate loans, and such other options as its laws may permit. As to certificates issued
on and after January 1, 1972, a society shall grant at least one paid-up nonforfeiture benefit,
except in the case of pure endowment, annuity or reversionary annuity contracts reducing term
insurance contracts or contracts of term insurance of uniform amount of 15 years or less expiring
before age 66. (b) In the case of certificates other than those for which reserves are computed
on the commissioners 1958 Standard Ordinary Mortality Table or the 1961 Standard Industrial
Table, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender
value, loan or other option granted shall not be less than the excess, if any, of subdivision
(1) over subdivision (2) of this subsection, as follows: (1) The...
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27-50-3
Section 27-50-3 Health benefit plan. As used in this chapter, the term "health
benefit plan" has the following meaning: A health insurance policy, including a self-insured
health plan, that covers hospital, medical, or surgical expenses, health maintenance organizations,
preferred provider organizations, medical service organizations, physician-hospital organizations,
or any other person, firm, corporation, joint venture, or other similar business entity that
pays for, purchases, or furnishes health care services to patients, insureds, or beneficiaries
in this state. The term does not include accident-only, specified disease, individual hospital
indemnity, credit, dental-only, Medicare-supplement, long-term care, or disability income
insurance; coverage issued as a supplement to liability insurance, workers' compensation or
similar insurance; or automobile medical-payment insurance. For the purpose of this chapter,
a health benefit plan located or domiciled outside of the State of...
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27-18-2
Section 27-18-2 Policy provisions - Generally. No policy of group life insurance shall
be delivered in this state unless it contains in substance the applicable provisions set forth
in Sections 27-18-3 through 27-18-13, or provisions which in the opinion of the commissioner
are more favorable to the persons insured or at least as favorable to the persons insured
and more favorable to the policyholder; except, however, that: (1) Sections 27-18-9 and 27-18-13
inclusive shall not apply to policies issued to a creditor to insure debtors of such creditor;
(2) The standard provisions required for individual life insurance policies shall not apply
to group life insurance policies; and (3) If the group life insurance policy is on a plan
of insurance other than the term plan, it shall contain a nonforfeiture provision, or provisions,
which, in the opinion of the commissioner, is, or are, equitable to the insured persons and
to the policyholder, but nothing in this section shall be construed to...
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36-29-21
Section 36-29-21 Definitions. When used in this article, the following terms shall have
the following meanings, unless the context clearly indicates otherwise: (1) BOARD. The Flexible
Employees Benefits Board. (2) EMPLOYEE. A person who is employed by the State of Alabama,
its agencies, departments, or for a county health department, and who receives his compensation
through means of a state warrant drawn upon the State Treasury, or by check drawn by the Alabama
State Port Authority, or from the treasury of the Department of Mental Health, other than
those employees covered by the federal Railroad Retirement Act. Further, for the purposes
of long-term care insurance, this definition covers any person employed by a local government
in the State of Alabama. (3) INTERNAL REVENUE CODE. The Internal Revenue Code of 1986, as
amended. (4) PARTICIPATING EMPLOYEE. An employee who elects to participate in the flexible
benefit plan and meets the requirements set forth in said plan. (5) SALARY...
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36-29-23
Section 36-29-23 Authorization to establish flexible employee benefit plan; provisions
of plan. The board, with the approval of the Governor, is authorized to establish a flexible
employee benefit plan for state employees in compliance with Section 125 and any other
applicable sections of the Internal Revenue Code. The flexible employee benefit plan may provide
for payments or salary reductions for qualified benefits in accordance with Section
125 of the Internal Revenue Code, which presently include health insurance premiums, group
life insurance, disability insurance, supplemental health and accident insurance, dependent
care expenses, and such other types of employee benefits permitted under Section 125
and any other applicable sections of the Internal Revenue Code. Futhermore, the board may
establish a long-term care plan for employees. (Acts 1989, No. 89-644, p. 1272, §4; Act 98-639,
p. 1410, §1.)...
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