Life Insurance Consumer Disclosure Model Act; enact

A BILL to be entitled an Act to amend Chapter 25 of Title 33 of the Official Code of Georgia Annotated, relating to life insurance, so as to provide for the "Life Insurance Consumer Disclosure Model Act"; to provide for written notice to certain life insurance policyholders that request the surrender of, a loan against, or accelerated death benefit, nursing home benefit, critical illness benefit, or any other living benefit under a life insurance policy; to provide for a short title; to provide for definitions; to provide for the written notice provisions; to provide that the written notice shall be promulgated by rules and regulations by the Commissioner; to provide for penalties; to repeal conflicting laws; and for other purposes.