Bill > SB109

This bill amends Georgia's life insurance regulations to prohibit group life insurance policies from excluding or restricting liability for deaths occurring while an insured individual is a service member of the regular or reserve component of the U.S. armed forces, unless the death is directly or indirectly caused by war or war-related hazards. Currently, life insurance policies can exclude coverage for deaths under certain circumstances, such as war, aviation accidents, hazardous occupations, deaths outside North America, or suicide within two years of policy issuance. The new provision specifically protects service members by ensuring that their group life insurance policies cannot deny coverage for deaths that are not war-related. If an exclusion is applied, the insurer must still pay an amount equal to the policy's reserve value. The bill will take effect on the first day of the month following gubernatorial approval or when it becomes law without approval, and it repeals any conflicting laws.

Business and Industry, Military Affairs and Security

https://www.legis.ga.gov/legislation/69980