Ga. Comp. R. & Regs. R. 120-2-26-.09 - Cash Values of Policy

(1) The cash values shown at the time of presentation shall be a specimen of the policy being offered and not for a larger policy. (Example: if $10,000 policy is being sold, values for this policy shall be shown - not those for a $50,000 or $75,000 program.) This leads to misunderstanding on the part of the insured when he receives his $10,000 policy and the cash values are less than those shown at the time of sale.

(2) In the event a sales presentation is made for an amount of insurance greater than that actually sold, then an approximate summary must be given to the insured for the exact amount of the policy sold, not later than the date of delivery.

Notes

Ga. Comp. R. & Regs. R. 120-2-26-.09

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

Original Rule entitled "Cash Values of Policy" adopted. F. July 18, 1972; eff. August 7, 1972. Submitted for Publishing: Mar. 15, 2007.