Alabama Code 27-36-5. Active life reserve for disability insurance
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Terms Used In Alabama Code 27-36-5
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
For all disability insurance policies, the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies and be not less than the reserve according to appropriate standards set forth in regulations issued by the commissioner and, in no event, less in the aggregate than the pro rata gross unearned premiums for such policies.