L&HGeorgiamedium
A Georgia employee whose group life coverage terminates upon leaving employment exercises the statutory conversion right. Which statement accurately describes the conversion privilege?
AThe employee may convert to an individual term policy at original group rates without evidence of insurability
BThe employee must submit full evidence of insurability and may convert only to a whole life policy
The employee may convert to any individual policy form other than term, without evidence of insurability, at the insurer's then-current rate for the attained age
DConversion is only available if the entire group policy is terminated, not for individual departures
Why this is the answer
Georgia's group life conversion privilege, O.C.G.A. § 33-27-3, allows a terminating insured (or a covered spouse; covered children are excluded) to convert to an individual policy without evidence of insurability. The new policy must be on a form the insurer regularly issues, other than term insurance, at the premium for the insured's attained age and class on the conversion date. The application and first premium must typically be submitted within 31 days of group termination.
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