Ala. Admin. Code r. 482-1-131-.02

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-131-.02 - Purpose

(1) The purpose of this chapter is to require insurers to deliver to purchasers of life insurance information that will improve the buyer's ability to select the most appropriate plan of life insurance for the buyer's needs and improve the buyer's understanding of the basic features of the policy that has been purchased or is under consideration.

(2) This chapter does not prohibit the use of additional material that is not a violation of this chapter or any other statute or chapter.

Author: Commissioner of Insurance

Ala. Admin. Code r. 482-1-131-.02

New Rule: Filed May 25, 2004; effective January 1, 2005. Filed with LRS June 3, 2004. Rule is not subject to the Alabama Administrative Procedure Act.

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-12-1, etseq.