---
title: O.C.G.A. § 33-31-5. Date insurance becomes effective; duration and termination of insurance.
collection: code
id: 33-31-5
cite_as: O.C.G.A. § 33-31-5 (2025)
canonical_url: https://georgiacommons.org/code/33-31-5
md_url: https://georgiacommons.org/code/33-31-5.md
text_url: https://georgiacommons.org/code/33-31-5/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t33-ch23-65-(v25)-2020-pdf.pdf?sfvrsn=68297_0#page=609
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/33-31.md
previous: https://georgiacommons.org/code/33-31-4.md
next: https://georgiacommons.org/code/33-31-6.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: INSURANCE / CREDIT LIFE INSURANCE AND CREDIT ACCIDENT AND SICKNESS INSURANCE
---

# O.C.G.A. § 33-31-5. Date insurance becomes effective; duration and termination of insurance.

The term of any credit life insurance or credit accident and sickness insurance shall commence, subject to acceptance by the insurer, on the date when the debtor becomes obligated to the creditor, except that, where a group policy provides coverage with respect to existing obligations, the insurance on a debtor with respect to the indebtedness shall commence on the effective date of the policy. In no event, however, in the case of a contract obligation involving future delivery or performance, must the insurance become effective before the date of such delivery or completion of such performance or before the date when all of the terms of the indebtedness are set forth in the contract or instrument creating the indebtedness. The term of the insurance shall not extend more than 15 days beyond the scheduled maturity date of the indebtedness, except when extended without additional cost to the debtor. If the indebtedness is discharged due to renewal or refinancing prior to the scheduled maturity date, the insurance in force shall be terminated before any new insurance may be issued in connection with the renewed or refinanced indebtedness. In all cases of termination prior to scheduled maturity, a refund shall be paid or credited as provided in Code Section 33-31-9.

## History

Code 1933, § 56-3305, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1990, p. 8, § 33.