Summary
The Supreme Court of Georgia held that OCGA § 33-31-4(a) permits credit life insurance coverage calculated on the total payments due over the life of an installment loan, including finance charges. The court affirmed judgment for Bankers Life, concluding that the plaintiff's challenge to gross balance decreasing coverage failed to state a claim.
Holdings
- OCGA § 33-31-4(a), read together with the statutory definition of indebtedness, permits credit life insurance coverage calculated on the total amount payable in connection with the credit transaction, including finance charges.
- Printis's complaint failed to state a cause of action because the challenged premium calculation and gross-balance decreasing coverage were authorized by OCGA § 33-31-4(a).
Questions Presented
- Whether OCGA § 33-31-4(a) permits credit life insurance coverage in connection with an installment loan to be calculated on the total payments due over the life of the loan, including finance charges.
- Whether Printis's complaint stated a cause of action based on Bankers Life's sale of gross-balance decreasing-term credit life coverage.
Disposition
affirmed
Cases Cited (4)
- Printis v. Bankers Life Ins. Co., 256 Ga. App. 266, 568 S.E.2d 85 (2002)(followed)
- Liberty Bank & Trust Co. v. Splane, 959 P.2d 600, 603 (Okla. Civ. App. 1998)(followed)
- Betts v. Brown, 219 Ga. 782, 787, 136 S.E.2d 365 (1964)(cited)
- Pioneer Homeowners Life Ins. Co. v. Hogan, 110 Ga. App. 887, 888, 140 S.E.2d 212 (1965)(cited)
Cited In (0)
No citing cases on record yet.
Court Document
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