Georgia Rules and Codes Pertinent to Life Insurance Only
A Georgia insurer receives a Replacement Notice telling it that its existing policy may be replaced, and the policyholder asks for a summary. How long does it have?
Answer and explanation
Answer: C. Rule 120-2-24-.06(5) requires an insurer receiving a Replacement Notice and written communication that its existing insurance may be replaced to furnish a policy summary statement to its present policyholder, if so indicated or requested, within ten working days after receipt. The other periods do not appear in the subsection.Source: Ga. Comp. R. & Regs. r. 120-2-24-.06 — 120-2-24-.06(5), Ten working days
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