Rule 120-2-26-.02. Purpose

The purpose of this Regulation is:

1. (1) To implement the Insurance Laws of this State with respect to the financing of premiums of life insurance in this State;

2. (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.

Submitted for Publishing: Mar. 15, 2007.

Authority: O.C.G.A. Sec. 33-2-9, Ch. 33-6.

History. Original Rule entitled "Purpose" adopted. F. July 18, 1972; eff. August 7, 1972.