33-26-6.2. Premium payment cap on whole life insurance policies.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
No insurer shall issue a policy which allows for the collection or payment of premiums which in the aggregate will be greater than 150 percent of the face amount of the policy.#
(b)
This Code section shall apply to industrial whole life policies, which are policies which may be kept in force for a person’s whole life and which pay a benefit upon the person’s death, whenever such death occurs, or policies which may have a designated age certain, as specified in the policy, when premium payments would cease.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 33-26-6.2, enacted by Ga. L. 2002, p. 572, § 3.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t33-ch23-65-(v25)-2020-pdf.pdf, Volume V25, 2020 edition, page 469; merge action: carried; file SHA-256 1cdfeaa4b73e.

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