A Georgia producer recommends that a client surrender an existing life policy and purchase a new one from a different insurer. After the new policy is delivered, how long does the applicant have to examine the policy and return it for a full refund of premium?

Why A is correct

Under O.C.G.A. § 33-25-8 and Reg. 120-2-24, a life insurance replacement in Georgia carries a 10-day free-look period measured from receipt of the policy; the replacement notice (Exhibit A under Reg. 120-2-24) reflects this 10-day examination right. If the policy is returned within the period, the insurer refunds the premium in full and the policy is treated as if it never took effect. The 20-day figure comes from the NAIC model regulation and is a common distractor, not Georgia law.

Why the other options are wrong

• B) 20 days is the NAIC-model replacement free look; Georgia keys the examination period to the 10-day rule of O.C.G.A. § 33-25-8 and Reg. 120-2-24.
• C) 30 days is the Medigap free-look figure under § 33-43-6, not the life replacement examination period.
• D) 60 days has no basis in Georgia life free-look law and is far longer than the statutory 10-day right.

Memory hook

Replacement or not, Georgia's life free look is 10 days — think 'ten to inspect.'

Why A is correct

Under O.C.G.A. § 33-25-8 and Reg. 120-2-24, a replacement life policy carries the same 10-day examination right as any individual life policy: the applicant may return it within 10 days after receipt for a full refund of premium, and the policy is void from the beginning. The Exhibit A notice in Reg. 120-2-24 reflects this 10-day right, so a replacing producer must never quote a longer examination period to the applicant.

Why the other options are wrong

• B) Twenty days is the NAIC-model replacement free look some prep vendors teach; Georgia's statute and Reg. 120-2-24 give only 10 days.
• C) Thirty days is the free look for Medicare supplement policies under O.C.G.A. § 33-43-6, a different product with a different examination period.
• D) Sixty days is not a Georgia examination period for any individual life or replacement policy.

Memory hook

Georgia gives ten — not the NAIC-model twenty.