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 120-2-26 - FINANCING OF PREMIUMS OF LIFE INSURANCE POLICIES
Rule 120-2-26-.02 - Purpose
Current through Rules and Regulations filed through September 23, 2024
The purpose of this Regulation is:
(1) To implement the Insurance Laws of this State with respect to the financing of premiums of life insurance in this State;
(2) To protect the interests of the life insurance public by establishing minimum standards of conduct to be observed in the financing of life insurance policies, and by making available full and clear information on which an applicant for life insurance can make a decision in his own best interest by reducing the opportunity for misrepresentation.
The following Regulation and standards shall be observed and followed in the financing of life insurance policy premiums. Failure to observe said Regulation and standards is hereby deemed an unfair method of competition and an unfair and deceptive act or practice prohibited by Chapter 33-6 of the Insurance Laws of the State of Georgia.
O.C.G.A. Sec. 33-2-9, Ch. 33-6.
