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93 chapters · 1,453 sections in this title.
Ala. Code § 27-16-1 “Industrial Life Insurance” Defined
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For the purposes of this title, “industrial life insurance” is that form of life insurance written under policies of face amount to $2,500.00 or less bearing the words “industrial policy” imprinted on the face thereof as part of the descriptive matter and under which premiums are…
Ala. Code § 27-16-10 Policy Provisions - Settlement of Claims
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There shall be a provision that, when the policy becomes a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer’s option, surrender of the policy and premium receipt book and proof of interest of the claimant. If the i…
Ala. Code § 27-16-11 Policy Provisions - Waiver, Etc., of Policy Terms or Conditions
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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 of any policy; except, that at the option of the insurer, the terms or conditions may be changed by an endorsement or rider signed by a duly authori…
Ala. Code § 27-16-12 Policy Provisions - Beneficiaries; Payment to Other Than Designated Beneficiary
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(a) 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 beneficiary after the issuance of the policy. (b) The policy may also provide that no designation or change of beneficiary shall be bindin…