Section 27-17A-3 Funding with insurance contract. - Alabama Statutes

Section 27-17A-3

Funding with insurance contract.

Nothing in this chapter shall be construed to prohibit the funding of preneed contracts with insurance contracts. Life insurance contracts used to fund preneed contracts shall conform with the provisions of this title as they relate to life insurance and shall cover at a minimum the retail amount of the preneed contract at the time of purchase.

(Act 2002-74, p. 221, §1.)