Ga. Comp. R. & Regs. R. 120-2-31-.05 - Disclosure Requirements
(1) Prior to soliciting, procuring or
receiving an application, the insurer shall provide, to all prospective
purchasers, a Buyer's Guide. The insurer shall also provide to all prospective
purchasers a Policy Summary prior to accepting the applicant's initial premium
or premium deposit, unless the policy for which application is made contains an
unconditional refund provision of at least ten days or unless the Policy
Summary contains such an unconditional refund offer, in which event, the Policy
Summary must be delivered with the policy or prior to delivery of the
policy.
(2) The insurer shall
provide a Buyer's Guide and a Policy Summary to any prospective purchaser or
present policyholder upon request.
(3) In the case of policies whose Equivalent
Level Death Benefit does not exceed $5,000, the requirement for providing a
Policy Summary will be satisfied by delivery of a written statement containing
the information described in Rule
120-2-31-.04(8),
items (b), (c), (d), (e)1., (e)2., (e)3., (f), (g), (j) and (k).
Notes
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