Short answer: Georgia's insurance commissioner tells buyers not to cancel an existing life policy until the new one arrives and has been reviewed.
This guide is general consumer information for Georgia life insurance buyers. It isn't legal advice or a coverage determination. Policy wording, underwriting and the statutes linked below control.
Before you replace or buy
Georgia's Office of the Commissioner of Insurance and Safety Fire life insurance page gives buyers specific cautions:
- Don't cancel an existing policy until you've received the new one. You then have a minimum period to review the new policy, and you may be able to change your current policy instead of replacing it.
- Ask the agent for a year-to-year display of values and benefits, because some policies build cash value slowly in early years.
- Before you buy, make sure you can afford the premium now and if it rises later, and ask what renewal premiums will be on term coverage and whether renewal rights end at a certain age.
- Read which premiums or benefits are not guaranteed.
Free-look and grace-period days are printed in the policy. If you have a complaint about an insurer, agent or claim, OCI's Consumer Services Division can help: (404) 656-2070 or toll-free (800) 656-2298.
Insurer financial strength
If you have questions about an insurer's financial strength or solvency in Georgia, contact the Georgia Office of Commissioner of Insurance.
Questions? Contact Alishahi Insurance or call (877) 711-4545. See insurance in Georgia.
Frequently asked questions
Should I cancel my old Georgia life policy before the new one arrives?
No. Georgia OCI says to wait until you've received and reviewed the new policy.
What should I ask a Georgia agent for before buying?
A year-to-year display of values and benefits, and which premiums or benefits aren't guaranteed, per Georgia OCI.
Alishahi Insurance · 439 N Canon Dr, Penthouse, Beverly Hills, CA 90210 · (877) 711-4545 · CA License #4348151. General information only. This isn't legal, tax or financial advice or a coverage determination. Coverage depends on policy language and underwriting, and rules vary by state.