Ga. Comp. R. & Regs. R. 120-2-27-.04 - Requirements for Standard Credit Life Premium Rates
The premium rates set forth in Rule .03 of this Regulation assume at least the following minimum policy provisions and requirements:
(1) The policy contains no provision which
excludes or restricts liability for death other than as a result of suicide
occurring within one year of the incurred indebtedness.
(2) The policy contains no age restrictions
whatsoever, or the only age restrictions contained in the policy are those
which make ineligible for coverage debtors who have attained age seventy (70)
at the time the indebtedness is incurred or debtors who will have attained age
seventy-one (71) prior to the maturity date of the indebtedness. However,
coverage shall remain in effect and benefits shall be payable to the
beneficiaries under the policy or certificate, notwithstanding the age of the
debtor, in cases where an individual policy or certificate is issued to a
debtor who has correctly stated his age on the application for
insurance.
Notes
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