Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-25 - EXEMPTION FROM FILING CERTAIN LIFE AND HEALTH POLICY FORMS
Rule 120-2-25-.05 - Exemptions

Universal Citation: GA Rules and Regs r 120-2-25-.05

Current through Rules and Regulations filed through September 23, 2024

On and after the effective date of this Regulation, and continuing until further Order of the Commissioner, the following policies and contract forms are hereby exempted from filing under the provisions of Section 33-24-9 of the Georgia Code Annotated:

1. Group Life Exemptions (Not including Credit Life)

(a) All Group Life Insurance Policies and Group Annuity Contracts, except as provided in Sections 33-11-19 and 33-11-34 of the Georgia Code Annotated.

(b) Applications, riders, endorsements and Amendments applicable to Group Life Insurance Policies and Group Annuity Contracts, except as provided in Sections 33-11-19 and 33-11-34 of the Georgia Code Annotated.

2. Individual Policy Exemptions - Ordinary and Industrial

(a) Level Amount Whole Life Policies

(i) Straight Life

(ii) Modified Life with not more than one premium increase at the end of three or five years

(iii) Level Premium Limited Payment Life

(iv) Single Premium Life

(v) Level Premium Joint Life

(vi) Family Plan, including Dependent Riders

(b) Level Amount Endowment Policies

(i) Level Premium Endowments for a specific number of years including limited payment endowments

(ii) Single Premium Endowments

(iii) Level Premium Retirement Income

(i) Level Term

(ii) Uniformly Decreasing or Increasing Term

(iii) Mortgage Cancellation Term for a duration of ten years or more

(iv) Family Income

(v) Single Premium Term

(vi) Family Plan Riders including Children's Insurance Riders

(d) Annuities - Except Variable and Separate Accounts (Section 33-11-35)

(i) Single Premium Immediate and Deferred Annuities

(ii) Annual Premium, including Limited Payment, Retirement Annuities

(e) Applications, additional benefit riders, endorsements, and amendments applicable to policies listed in this section.

3. Group Accident and Health Exemptions

(a) All group Accident and Health Policies except as provided in Section 33-30-1(5) at the discretion of the Commissioner.

(b) Applications, riders, endorsements and amendments applicable to policies listed in this Section.

4. Blanket Accident and Health Exemptions

(a) Policies

(i) Issued to any common carrier or to any operator, owner or lessee of a means of transportation, who or which shall be deemed the policyholder covering a group defined as all persons or all persons of a class who may become passengers on such common carrier or such means of transportation. (Section 33-13-4(1))

(ii) Issued to an employer, who shall be deemed the policyholder, covering all employees, dependents or guests defined by reference to specified hazards incident to the activities or operations of the employer or any class of employees, dependents or guests similarly defined. (Section 33-30-3(2))

(iii) Issued to a school, or other institution of learning, camp, or sponsor thereof; or to the head or principal thereof, who or which shall be deemed the policyholder, covering students or campers. Supervisors and employees may be included. (Section 33-30-3(3))

(iv) Issued in the name of any religious, charitable, recreational, educational, or civic organization, which shall be deemed the policyholder, covering participants in activities sponsored by the organization. (Section 33-30-3(4))

(v) Issued to a sports team or sponsors thereof which shall be deemed the policyholder, covering members, officials and supervisors. (Section 33-30-3(5))

(b) Applications, riders, endorsements and amendments applicable to policies and/or riders listed in this Section.

Ga. L. 1960, pp. 289 to 755.

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