Ala. Admin. Code r. 482-3-005-.04

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

Section 482-3-005-.04 - Preneed Contract Log - Required Content

If the Department's sample log form is not used, any substitute form of preneed contract log shall include the following information categories:

(a) Sequentially ordered contract number.

(b) Name of purchaser.

(c) Date of contract.

(d) Net amount of contract (contract price after insurance credits and all discounts).

(e) Itemization of purchase price of merchandise and services collected under the contract.

(f) Amount to be trusted (if applicable).

(g) Type of payments (paid-in-full or installments).

(h) Cumulative amount trusted for merchandise and services as of the paid-in-full date.

(i) Face amount of insurance sold (if applicable).

(j) Paid-in-full amount or cumulative installment payments.

(k) Partial delivery (yes/no).

(l) Date delivered.

(m) Date of burial (at need).

(n) Date contract voided or cancelled.

(o) Last payment date.

Ala. Admin. Code r. 482-3-005-.04

Adopted by Alabama Administrative Monthly Volume XXXIII, Issue No. 02, November 26, 2014, eff. 1/1/2015.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-17A-1 to -57 (2014).