Georgia Life Insurance

A Life policy at its most basic level is a contract between you and an insurance company to pay a sum of money to your beneficiaries in the event of your death. The point is to cover expenses and make up for the lack of your income. There are basically two types of Life products: Term Life and Permanent Life.

Why Do I Need It?

Take a look at these figures.

Georgia is ranked 41st out of 50 states and the District of Columbia in Life Expectancy, with an average life expectancy of 75.3 years.  For every 100,000 people in Georgia, over 1000 between the ages of 55 and 64 pass away every year. Between the ages of 65 and 74, that number more than doubles to 2,400, and at 75 to 84 well over 6,000 Georgians die for every 100,000 residing in the state. More on mortality by age, sex and race, and the leading causes of death in Georgia can be found at: http://www.cdc.gov/nchs/pressroom/data/Georgia09.pdf

For more reasons why you should apply for for a Life policy in the state of Georgia and for help finding the appropriate plan for your needs at the best value, take a look at our section called "Most Important Questions ".

Georgia Specifics

The insurance industry in Georgia is regulated by specified title of The State Insurance Code of Georgia. The state uses this code to regulate claims and provide certain provisions to protect consumers, such as:

Free Look: According to the State Code, a "Free Look" provision must be included in every plan. The free look allows you at least 10 days to change your mind even after you have signed the contract with the insurance company and received all policy documents. Some companies may give a free look for up to 30 days when purchasing a Georgia Life plan.

Grace Period: The Georgia State insurance code also requires that all Insurance companies allow a 30-day grace period on late payments. If you miss a premium payment for any reason, you must be given 30 days to bring the account current before the insurer can cancel the policy for non-payment.


The Georgia Insurance state regulations also provide some protections to insurance companies against consumer fraud. For example, insurance carriers may challenge any information you reported on your application for up to two years from the effective date of the policy. If they find any discrepancies or misinformation, they can terminate the policy immediately.

Georgia State Resources

Georgia Department of Insurance The purpose of the Department of Insurance is to faithfully execute the state insurance laws in a manner that protects insurance consumers and the Insurance industry.
http://www.gainsurance.org/

Georgia Life & Disability Insurance Guaranty Association - State guaranty associations are there to provide protection and continuing coverage, even in the event that an insurance company becomes insolvent.
http://www.gaiga.org/

Georgia Company Ratings - This company provides ratings based on financial strength and past performance.
http://www.ambest.com/

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