Under O.C.G.A. § 33-25-3.1, what is the maximum fixed annual interest rate a Georgia insurer may charge on a life insurance policy loan when a fixed rate is selected?

Why this is the answer

O.C.G.A. § 33-25-3.1 governs life insurance policy loans in Georgia. When the insurer uses a fixed interest rate option, the rate may not exceed 8% per annum. The statute also permits an adjustable-rate option tied to an index. Policy loans are secured by the cash value, and any unpaid loan balance plus accrued interest reduces the death benefit if not repaid before the insured's death.