Ala. Admin. Code r. 482-1-113-.04

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-113-.04 - Type Of Product

Accelerated benefit riders and life insurance policies with accelerated benefit provisions are primarily mortality risks rather than morbidity risks. They are life insurance benefits subject to Chapter 15 of the Insurance Code.

Author: Commissioner of Insurance

Ala. Admin. Code r. 482-1-113-.04

New: September 23, 1996; effective January 1, 1997. Filed for codification in the Alabama Administrative Code by the Department of Insurance on November 14, 2005, pursuant to the Code of Ala. 1975, § 27-7-43.

Statutory Authority:Code of Ala. 1975, § 27-2-17.