State RegulationsGA specificDifficulty 3/5
O.C.G.A. § 33-25-8 gives the purchaser of an individual life policy the right to return the policy for a refund. If the policy was never actually received, when is the purchaser DEEMED to have received the policy?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under O.C.G.A. § 33-25-8, the purchaser of an individual life policy is deemed to have received the policy six months after the effective date or after two premium notices have been sent, whichever is longer. This deemed-receipt rule closes the loophole of an undelivered policy lingering indefinitely, and returning the policy by certified or statutory overnight mail is prima facie evidence of a timely return.
Why the other options are wrong
- A) The statute uses whichever period is LONGER, not shorter, so the shorter alternative understates the deemed-receipt date.
- B) Mailing a renewal bill is not the statutory trigger for deemed receipt under § 33-25-8.
- C) A flat one-year rule appears nowhere in § 33-25-8; the deemed-receipt date is fixed by the six-month and two-notice measures.
Memory hook
Deemed delivered: 6 months OR two premium notices — take the LONGER one.