Georgia 2025-2026 Regular Session

Georgia Senate Bill SB109 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	25 ~~SB 109/AP~~
	1	+	25 LC 46 1164S (SCS)
2	2		Senate Bill 109
3	3		By: Senators Harbison of the 15th, Walker III of the 20th, Payne of the 54th, Anderson of
4	4		the 43rd, Robertson of the 29th and others
5		-	AS PASSED
	5	+	AS PASSED SENATE
6	6		A BILL TO BE ENTITLED
7	7		AN ACT
8	8		To amend Chapter 25 of Title 33 of the Official Code of Georgia Annotated, relating to life
9	9		1
10	10		insurance, so as to prohibit a policy of group life insurance from excluding or restricting2
11	11		liability for certain deaths occurring while an individual is a service member; to provide for3
12	12		related matters; to provide for an effective date; to repeal conflicting laws; and for other4
13	13		purposes.5
14	14		BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:6
15	15		SECTION 1.7
16	16		Chapter 25 of Title 33 of the Official Code of Georgia Annotated, relating to life insurance,8
17	17		is amended by revising Code Section 33-25-5, relating to inclusion of provisions excluding9
18	18		or restricting liability for death, as follows:10
19	19		"33-25-5.11
20	20		(a) No policy of life insurance, except as stated in subsection (c) of this Code section, shall12
21	21		be delivered or issued for delivery in this state if it contains a provision which excludes or13
22	22		restricts liability for death caused in a certain specified manner or occurring while the14
23	23		insured has a specified status, except that the policy may contain provisions excluding or15
24	24		S. B. 109
25		-	- 1 - 25 ~~SB 109/AP~~
	25	+	- 1 - 25 LC 46 1164S (SCS)
26	26		restricting coverage as specified therein in the event of death under any one or more of the16
27	27		following circumstances:17
28	28		(1) Death as a result, directly or indirectly, of war, declared or undeclared, or of any act18
29	29		or hazard of such war;19
30	30		(2) Death as the result of aviation or any air travel or flight;20
31	31		(3) Death as a result of a specified hazardous occupation or occupations;21
32	32		(4) Death while the insured is a resident outside the continental United States and22
33	33		Canada; or23
34	34		(5) Death within two years from the date of issue of the policy as a result of suicide,24
35	35		while sane or insane.25
36	36		(b) A policy which contains any exclusion or restriction pursuant to subsection (a) of this26
37	37		Code section shall also provide that in the event of death under circumstances to which any27
38	38		such exclusion or restriction is applicable, the insurer will pay an amount not less than a28
39	39		reserve determined according to the Commissioner's reserve valuation method upon the29
40	40		basis of the mortality table and interest rate specified in the policy for the calculation of30
41	41		nonforfeiture benefits or, if the policy provides no such benefits, computed according to31
42	42		a mortality table and interest rate determined by the insurer and specified in the policy with32
43	43		adjustment for indebtedness or dividend credit.33
44	44		(c) This Code section shall not apply to group life insurance, except as stated in34
45	45		subsection (d) of this Code section, reinsurance, annuities, or to any provision of a life35
46	46		insurance policy, or contract supplemental thereto, relating to disability benefits, or to36
47	47		additional benefits in the event of death by accident or accidental means.37
48	48		(d) No policy of group life insurance shall be delivered or issued for delivery in this state38
49	49		if it contains a provision which excludes or restricts liability for death occurring while the39
50	50		insured is a service member of the regular or reserve component of the armed forces of the40
51	51		United States and such death is not a result, directly or indirectly, of war, declared or41
52	52		undeclared, or any act or hazard of such war.42
53	53		S. B. 109
54		-	- 2 - 25 ~~SB 109/AP~~
	54	+	- 2 - 25 LC 46 1164S (SCS)
55	55		(d)(e) Nothing contained in this Code section shall prohibit any provision which in the43
56	56		opinion of the Commissioner is more favorable to the policyholder than a provision44
57	57		permitted by this Code section."45
58	58		SECTION 2.46
59	59		This Act shall become effective on the first day of the month following the month in which47
60	60		it is approved by the Governor or becomes law without such approval.48
61	61		SECTION 3.49
62	62		All laws and parts of laws in conflict with this Act are repealed.50
63	63		S. B. 109
64	64		- 3 -