Alabama Life and Disability Insurance Guaranty Association Act

What this document is

Alabama Life and Disability Insurance Guaranty Association Act - Ala. Code Title 27, Chapter 44 (§§ 27-44-1 through 27-44-21) is a state statute published by alison.legislature.state.al.us. It is one of the Alabama documents that insurance license exam questions are written from, including alabama life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Ala. Code tit. 27 § 27-44-8(b)(2)d.2. (Powers and Duties of Association - alternative or reissued policies)

  “Alternative or reissued policies shall be offered without requiring evidence of insurability, and shall not provide for any waiting period or exclusion that would not have applied under the terminated policy.”

• Ala. Code tit. 27 § 27-44-3(a)(5) (Scope of Chapter - avoiding duplicate coverage)

  “This chapter is intended to provide coverage to a person who is a resident of this state and, in special circumstances, to a nonresident. In order to avoid duplicate coverage, if a person who would otherwise receive coverage under this chapter is provided coverage under the laws of any other state,...”

• Ala. Code tit. 27 § 27-44-3(b)(2) (Scope of Chapter - exclusions from coverage)

  “(2) This chapter shall not provide coverage for any of the following: a. A portion of a policy or contract not guaranteed by the insurer, or under which the risk is borne by the policy or contract owner. b. A policy or contract of reinsurance, unless assumption certificates have been issued...”

• Ala. Code tit. 27 § 27-44-8(c) (Powers and Duties of Association - termination for nonpayment of premiums)

  “Nonpayment of premiums within 31 days after the date required under the terms of any guaranteed, assumed, alternative, or reissued policy or contract or substitute coverage shall terminate the association’s obligations under the policy or coverage under this chapter with respect to the policy or...”

• Ala. Code tit. 27 § 27-44-8(d) (Powers and Duties of Association - premiums after order of liquidation)

  “Premiums due for coverage after entry of an order of liquidation of an insolvent insurer shall belong to and be payable at the direction of the association. If the liquidator of an insolvent insurer requests, the association shall provide a report to the liquidator regarding such premium collected...”

• Ala. Code § 27-44-3(c)(2)a.1. (Scope of Chapter - benefit limits)

  “Three hundred thousand dollars ($300,000) in life insurance death benefits, but not more than one hundred thousand dollars ($100,000) in net cash surrender and net cash withdrawal values for life insurance.”

Practice this material

Questions about this source

More Alabama sources

• Alabama Producer Examination Content Outline - Life and Health ExaminationsCandidate handbook or exam outline
• Alabama Producer Examination Content Outline - Property and Casualty ExaminationsCandidate handbook or exam outline
• Alabama Code § 27-12-6 - TwistingState statute
• Alabama Code Title 27, Chapter 19, Article 1 - Disability Insurance Policies (Secs. 27-19-1 to 27-19-22)State statute
• Alabama Disability (Accident and Health) Insurance Policy Provisions - Ala. Code Title 27, Chapter 19, Article 1, General Provisions (§§ 27-19-1 through 27-19-39)State statute
• Alabama Group and Blanket Disability (Health) Insurance - Ala. Code Title 27, Chapter 20 (§§ 27-20-1 through 27-20-7)State statute
• Alabama Group Life Insurance - Ala. Code Title 27, Chapter 18 (§§ 27-18-1 through 27-18-16)State statute
• Alabama Insurance Contract, General Provisions - Ala. Code Title 27, Chapter 14 (§§ 27-14-1 through 27-14-32)State statute