Alabama § 27-18-8 Policy Provisions - Furnishing of Statement to Debtors

Alabama Statutes

§ 27-18-8 — Policy Provisions - Furnishing of Statement to Debtors

Alabama § 27-18-8

Title 27Insurance

Ch. 18Group Life Insurance

This text of Alabama § 27-18-8 (Policy Provisions - Furnishing of Statement to Debtors) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 27-18-8 (2026).

Text

In the case of a policy issued to a creditor to insure debtors of such creditor, there shall be a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a form which will contain a statement that the life of the debtor is insured under the policy and that any death benefit paid thereunder by reason of his death shall be applied to reduce or extinguish the indebtedness.

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In the case of a policy issued to a creditor to insure debtors of such creditor, there shall be a provision that the insurer will furnish to the policyholder for delivery to each debtor insured under the policy a form which will contain a statement that the life of the debtor is insured under the policy and that any death benefit paid thereunder by reason of his death shall be applied to reduce or extinguish the indebtedness.