Does Alarm.com monitor the alarm system?
No. At least not in the traditional sense. Alarm.com is not a central station that has operators that will call to verify alarms and dispatch your local emergency services if needed.
Alarm.com does offer features that will allow you, and others that you designate, to receive notifications for emergency and non-emergency situations. You can then handle those situations however you see fit.
And with any Alarm.com plan (other than the standalone video service) wireless signal forwarding is included. With this and a central station monitoring package, Alarm.com will send your alarm signals to a traditional central station for monitoring. This is in addition to the notifications that will be sent out directly to you. The wireless signal forwarding option can be purchased alone if desired.