There may be a provision in the case of industrial policies granting to the insured, upon proper written request and upon presentation of evidence of insurability satisfactory to the insurer, the privilege of converting any industrial insurance policy to any form of life insurance with less frequent premium payments regularly issued by the insurer, in accordance with terms and conditions agreed upon with the insurer. The privilege of making such conversion need be granted only if the insurer's industrial policies on the life insured, in force as premium-paying insurance and on which conversion is requested, grant benefits in event of death, exclusive of additional accidental death benefits and exclusive of any dividend additions, in an amount not less than the minimum amount of such insurance, with less frequent premium payments issued by the insurer at the age of the insured on the plan of industrial or ordinary insurance desired.
Structure Code of Alabama
Chapter 16 - Industrial Life Insurance.
Section 27-16-1 - "Industrial Life Insurance" Defined.
Section 27-16-2 - Applicability of Chapter.
Section 27-16-3 - Policy Provisions - Generally.
Section 27-16-4 - Policy Provisions - Grace Period.
Section 27-16-5 - Policy Provisions - Entire Contract; Representations.
Section 27-16-6 - Policy Provisions - Incontestability.
Section 27-16-7 - Policy Provisions - Misstatement of Age or Sex.
Section 27-16-8 - Policy Provisions - Dividends.
Section 27-16-9 - Policy Provisions - Reinstatement.
Section 27-16-10 - Policy Provisions - Settlement of Claims.
Section 27-16-11 - Policy Provisions - Waiver, etc., of Policy Terms or Conditions.
Section 27-16-12 - Policy Provisions - Beneficiaries; Payment to Other Than Designated Beneficiary.
Section 27-16-13 - Policy Provisions - Nonforfeiture Benefits and Cash Surrender Values.
Section 27-16-14 - Policy Provisions - Title.
Section 27-16-15 - Policy Provisions - Applicability to Single Premium, etc., Policies.
Section 27-16-17 - Policy Provisions - Prohibited Provisions.