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27-14-7
Section 27-14-7 Application for policy - Representations and misrepresentations, etc.
(a) All statements and descriptions in any application for an insurance policy or annuity
contract, or in negotiations therefor, by, or in behalf of, the insured or annuitant shall
be deemed to be representations and not warranties. Misrepresentations, omissions, concealment
of facts and incorrect statements shall not prevent a recovery under the policy or contract
unless either: (1) Fraudulent; (2) Material either to the acceptance of the risk or to the
hazard assumed by the insurer; or (3) The insurer in good faith would either not have issued
the policy or contract, or would not have issued a policy or contract at the premium rate
as applied for, or would not have issued a policy or contract in as large an amount or would
not have provided coverage with respect to the hazard resulting in the loss if the true facts
had been made known to the insurer as required either by the application for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-7.htm - 1K - Match Info - Similar pages
27-15-2
Section 27-15-2 Life insurance policy provisions - Generally. (a) No policy of life
insurance other than industrial, group, and pure endowments, with or without return of premiums
or of premiums and interest, shall be delivered or issued for delivery in this state unless
it contains in substance all of the provisions required by Sections 27-15-3 through 27-15-14.
This section shall not apply to burial insurance, annuity contracts, to any provision
of a life insurance policy, or contract supplemental thereto, relating to disability benefits
or to additional benefits in the event of death or dismemberment by accident or accidental
means or to any provision relating to waiver of premiums in the event of death or disability
of the beneficiary or premium payer. (b) Any of such provisions, or portions thereof not applicable
to single premium or term policies, shall, to that extent, not be incorporated therein. (Acts
1971, No. 407, p. 707, ยง347.)...
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27-15-81
Section 27-15-81 Consistency of progression of cash surrender values with increasing
policy duration. (a) This section, in addition to all other applicable sections of
this article, shall apply to all policies issued on or after January 1, 1985. Any cash surrender
value available under the policy in the event of default in a premium payment due on any policy
anniversary shall be in an amount which does not differ by more than two-tenths of one percent
of either the amount of insurance, if the insurance be uniform in amount, or the average amount
of insurance at the beginning of each of the first 10 policy years, from the sum of: (1) The
greater of zero and the basic cash value hereinafter specified. (2) The present value of any
existing paid-up additions, less the amount of any indebtedness to the insurer on account
of or secured by the policy. (b) The basic cash value shall be equal to the present value,
on such anniversary, of the future guaranteed benefits which would have been...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-81.htm - 4K - Match Info - Similar pages
27-36A-8
Section 27-36A-8 Reserve valuation method - Life insurance and endowment benefits. (a)
Except as otherwise provided in Sections 27-36A-9, 27-36A-12, and 27-36A-14, reserves according
to the commissioners reserve valuation method, for the life insurance and endowment benefits
of policies providing for a uniform amount of insurance and requiring the payment of uniform
premiums, shall be the excess, if any, of the present value, at the date of valuation, of
the future guaranteed benefits provided for by the policies over the then present value of
any future modified net premiums therefor. The modified net premiums for a policy shall be
the uniform percentage of the respective contract premiums for the benefits, excluding extra
premiums on a substandard policy, that the present value, at the date of issue of the policy,
of all modified net premiums shall be equal to the sum of the then present value of the benefits
provided for by the policy and the excess of subdivision (1) over...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-8.htm - 4K - Match Info - Similar pages
27-52-3
Section 27-52-3 Additional powers; guidelines. (a) The commissioner shall, by regulation,
establish additional powers and duties of the plan and may adopt such rules as are necessary
and proper to implement this article. For the purpose of this section, the term "insurer"
means any entity covered by the Health Insurance Portability Act, including, but not limited
to, as the terms are defined in the Health Insurance Portability Act, a health insurance issuer,
a health maintenance organization and, notwithstanding Section 10-4-115, any health
benefit plan. In the case of a self-funded health benefit plan operating through a third party
administrator, the third party administrator shall be the insurer for the purpose of this
section. The commissioner may, by regulation, define health insurance premiums consistent
with the purpose of this section. (b) The regulations shall set forth coverage eligibility
criteria consistent with the requirements of Health Insurance Portability and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-52-3.htm - 2K - Match Info - Similar pages
27-56-2
Section 27-56-2 Definitions. As used in this chapter, the following terms shall have
the following meanings: (1) COVERED PERSON. Any individual, family, or family member on whose
behalf third-party payment or prepayment of health or medical expenses is provided under an
insurance policy, plan, or contract providing for third-party payment or prepayment of health
care or medical expenses. (2) EYE CARE PROVIDER. A licensed optometrist or a licensed ophthalmologist.
(3) INSURANCE POLICY, PLAN, OR CONTRACT PROVIDING FOR THIRD-PARTY PAYMENT OR PREPAYMENT OF
HEALTH OR MEDICAL EXPENSES. Includes an individual or group policy for accident or health
insurance, an individual or group hospital or health care service contract, an individual
or group health maintenance organization contract, an organized delivery system contract,
or a preferred provider organization contract, and any other similar policy, plan, or contract.
This term shall not include any employee welfare benefit plan, as defined...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-56-2.htm - 1K - Match Info - Similar pages
36-1-6.2
Section 36-1-6.2 Insurance coverage for state instrumentalities and agencies; prior
contracts and policies ratified. (a) Any instrumentality or agency of the State of Alabama,
whose principal activity consists of distributing goods or services by contract with the United
States, or any federal governmental corporation, and which are not covered by the provisions
of Chapter 29 of this title, shall be subject to all the provisions of this section.
Such instrumentality or agency is hereby empowered to purchase and pay for group health, accident
or hospitalization insurance coverage for its officers and employees. Such instrumentality
or agency is hereby further authorized to contract with the State Employees' Insurance Board
for group health, accident or hospitalization insurance coverage, and under such terms, conditions,
and costs as the State Employees' Insurance Board and the instrumentality or agency shall
mutually determine. The cost or premium for such group health, accident or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-1-6.2.htm - 1K - Match Info - Similar pages
36-29-15
Section 36-29-15 Coverage of members of Legislature, Lieutenant Governor and dependents;
limitation of benefits; payment of premiums; rules and regulations. (a) Any member of the
Legislature and the Lieutenant Governor, during their term of office, and their dependents,
shall be eligible for coverage under the State Employees' Health Insurance Plan and upon expiration
of their term of office may continue such coverage for a maximum of 36 months. (b) Preexisting
conditions shall not be covered until the insured has been covered under the plan for a period
of 12 months, provided, however, that any legislator enrolling within 30 days of April 23,
1990 or within 30 days of the beginning of any calendar year thereafter shall not be subject
to this limitation of benefits. A preexisting condition is any condition for which the insured
or their covered dependent received medical treatment, advice or consultation or received
any prescribed medication within 12 months of the effective date of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-29-15.htm - 1K - Match Info - Similar pages
6-5-543
Section 6-5-543 Damages against health care provider to be itemized; future damages
over $150,000 to be paid by periodic payments over period of years; judgment to specify payment
terms; requirement to post security or provide evidence of insurance; future damages not to
be reduced to present value; attorney's fees; termination of periodic payments; contempt of
court upon continuing pattern of failure to make payments; modification of judgment; legislative
intent. (a) In any action for injury or damages whether in contract or in tort against a health
care provider based on a breach of the standard of care the damages assessed by the trier
of fact shall be itemized as follows: (1) Past damages, (2) Future damages, (3) Punitive damages.
The trier of fact shall not reduce any future damages to present value. If the trial court
determines that any one or more of the above categories is not recoverable in the action,
that category or categories shall be omitted from the itemization. (b)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-5-543.htm - 9K - Match Info - Similar pages
22-21-260
Section 22-21-260 Definitions. As used in this article, the following words and terms,
and the plurals thereof, shall have the meanings ascribed to them in this section,
unless otherwise required by their respective context: (1) ACQUISITION. Obtaining the legal
equitable title to a freehold or leasehold estate or otherwise obtaining the substantial benefit
of such titles or estates, whether by purchase, lease, loan or suffrage, gift, devise, legacy,
settlement of a trust or means whatever, and shall include any act of acquisition. The term
"acquisition" shall not mean or include any conveyance, or creation of any lien
or security interest by mortgage, deed of trust, security agreement, or similar financing
instrument, nor shall it mean or include any transfer of title or rights as a result of the
foreclosure, or conveyance or transfer in lieu of the foreclosure, of any such mortgage, deed
of trust, security agreement, or similar financing instrument, nor shall it mean or include
any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-260.htm - 11K - Match Info - Similar pages
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