L&HGeorgiamedium
Under O.C.G.A. §§ 33-7-4 and 33-7-2, which definition correctly distinguishes life insurance from accident and sickness insurance?
Life insures human lives; A&S covers sickness, injury, or accidental death
BBoth lines insure only against bodily injury; the difference is premium structure
CA&S insurance pays a fixed death benefit; life insurance pays medical expenses
DLife insurance covers groups only; A&S covers individuals only
Why this is the answer
Georgia defines the kinds of insurance in Chapter 7 of Title 33. O.C.G.A. § 33-7-4 defines life insurance as insurance on human lives and insurance appertaining to them, including endowment benefits; a life insurer may also grant annuities. O.C.G.A. § 33-7-2 defines accident and sickness insurance as insurance against bodily injury, disablement, or death by accident, or against disablement or expense resulting from sickness. The two lines have distinct statutory frameworks (e.g., Chapters 25, 27 for life; Chapters 29, 30 for A&S) and distinct producer licensing scope.
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