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O.C.G.A. § 33-25-15 — Insurer prohibited from penalizing agent for apprising policy owner of alternatives to lapse or surrender of individual life insurance policy | Georgia Code
O.C.G.A. § 33-25-15 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 33 INSURANCE

Section 25. Life Insurance, 33-25-1 through 33-25-15.

ARTICLE 4 UNDERWRITING AND RATE RISKING

33-25-15. Insurer prohibited from penalizing agent for apprising policy owner of alternatives to lapse or surrender of individual life insurance policy.

  1. As used in this Code section, the term:
    1. "Agent" means a person that is the agent of record of a policy or that has a business relationship with the policy owner or insured.
    2. "Insurer" means the insurance company that issued or currently insures the policy.
    3. "Person" means an individual or a legal entity.
    4. "Policy" means an individual life insurance policy owned by an individual who is a resident of this state, regardless of whether such individual life insurance policy has been issued, delivered, or renewed in this state.
  2. No insurer or any other person shall terminate, fine, or otherwise penalize an agent for:
    1. Apprising a policy owner or his or her designee of options under the policy terms to the lapse or surrender of the policy; or
    2. Assisting a policy owner with securing any benefits under the policy terms.

(Code 1981, §33-25-15, enacted by Ga. L. 2016, p. 211, § 1/HB 193.)

Effective date.

- This Code section became effective July 1, 2016.

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This Georgia Code resource is curated by a Florida and Georgia attorney, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. Attorney Syfert regularly works with Title 33 in the context of Georgia insurance coverage law and represents clients throughout Northeast Florida and South Georgia. For legal consultation, call 904-383-7448.