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O.C.G.A. § 33-29-15 — Exemption of policy proceeds from liability for debts of insured and beneficiary | Georgia Code
O.C.G.A. § 33-29-15 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 33 INSURANCE

Section 29. Individual Accident and Sickness Insurance, 33-29-1 through 33-29-22.

ARTICLE 4 UNDERWRITING AND RATE RISKING

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

  1. 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 contract, 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 use.
  2. 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.

(Code 1933, § 56-3015, enacted by Ga. L. 1960, p. 289, § 1.)

RESEARCH REFERENCES

ALR.

- Bankruptcy or insolvency of insured as affecting right of person injured to proceeds of indemnity insurance, in absence of provision in policy in that regard, 59 A.L.R. 1123.

Accident insurance as life insurance within exemption law, 111 A.L.R. 61.

Enforceability, in forum, of extraterritorial waiver of debtor's exemption valid where made, 60 A.L.R.2d 1449.

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This Georgia Code resource is curated by Graham W. Syfert, Esq., 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.