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Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 29. INDIVIDUAL ACCIDENT AND SICKNESS INSURANCE

33-29-15. Exemption of policy proceeds from liability for debts of insured and beneficiary.

Active

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

  1. (a)

    The proceeds or avails of all accident and sickness policies and of provisions providing benefits on account of the insured’s disability which are supplemental to life insurance or annuity contracts, except credit accident and sickness policies and credit life policies, shall be exempt from all liability for any debt of the insured and from any debt of the beneficiary existing at the time the proceeds are made available for his or her use.#

  2. (b)

    The exemption of income benefits payable as the result of disability shall not exceed an average of $250.00 of such benefits per month of the period of disability.#

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 1933, § 56-3015, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 386, § 95/SB 133. The 2019 amendment, effective July 1, 2019, in subsection (a), substituted ‘‘contracts’’ for ‘‘contract’’ in the middle, and inserted ‘‘or her’’ near the end.

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 532; merge action: carried; file SHA-256 1cdfeaa4b73e.