GA Code § 33-24-5 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 24 - Insurance Generally|Article 1 - General Provisions|§ 33-24-5. Persons Having Capacity to Contract for Insurance; Purchase of Insurance by or for Minors; Rescission, Avoidance, or Repudiation of Contracts by Minors

  Any person of competent legal capacity may contract for insurance.   A minor not less than 15 years of age as determined at his nearest birthday may, notwithstanding his minority, contract for annuities, endowments, life insurance, and accident and sickness insurance on his own life or body or the life or body of any person in whom he has an insurable interest. A minor shall, notwithstanding his minority, be deemed competent to exercise all rights and powers with respect to or under any contract or policy for annuities, endowments, life insurance, and accident and sickness insurance on his own life or body or on the person of another as though of full legal age, and may surrender his interest in the annuities, endowments, life insurance, and accident and sickness insurance and give a valid discharge for any benefit accruing or money payable under the contract or policy. The minor shall not, by reason of his minority, be entitled to rescind, avoid, or repudiate the contract or to rescind, avoid, or repudiate any exercise of a right or privilege under the contract, except that the minor, not otherwise emancipated, shall not be bound by any unperformed agreement to pay, by promissory note or otherwise, any consideration or premium on any such contract or policy. Any contract or policy for annuities, endowments, life insurance, and accident and sickness insurance procured by or for a minor under this subsection shall be made payable either to the minor or his estate or to a person having an insurable interest in the life of such minor.   A minor not less than 15 years of age as determined at his nearest birthday may, notwithstanding such minority, contract for insurance on other subjects of insurance in which he has an insurable interest. A minor shall be bound by any settlement made in connection with any insurance contract so issued. The minor shall not, by reason of his minority, be entitled to rescind, avoid, or repudiate the contract or to rescind, avoid, or repudiate any exercise of a right or privilege under the contract, except that a minor, not otherwise emancipated, shall not be bound by any unperformed agreement to pay, by promissory note or otherwise, any premium on any insurance contract.    (Code 1933, § 56-2406, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1990, p. 8, § 33.)   Law reviews.   - For article recommending more consistency in age requirements of laws pertaining to the welfare of minors, see 6 Ga. St. B.J. 189 (1969).   JUDICIAL DECISIONS   Minority does not prohibit contracting insurance.    - When a 16-year-old child requested that the child's vehicle be added to the parents' existing coverage, and when the child was a named insured under the policy, the child's minority in and of itself did not prohibit the child from contracting insurance. Buffington v. State Auto. Mut. Ins. Co., 192 Ga. App. 389, 384 S.E.2d 873, cert. denied, 192 Ga. App. 901, 384 S.E.2d 873 (1989).   Federal law controls service- member's right to choose beneficiary of GI insurance.    - When state law conflicts with the right granted by Congress to a servicemember to name in the first instance a beneficiary of the servicemember's own choosing, state law must yield. Davenport v. Servicemen's Group Life Ins. Co., 119 Ga. App. 685, 168 S.E.2d 621 (1969).   Minor servicemember may designate beneficiary.    - Minor service- member may exercise the right granted by the Federal Servicemember's Group Life Insurance Act to designate a beneficiary of the servicemember's choosing for such insurance, this section to the contrary notwithstanding. Davenport v. Servicemen's Group Life Ins. Co., 119 Ga. App. 685, 168 S.E.2d 621 (1969).   RESEARCH REFERENCES   Am. Jur. 2d.   - 43 Am. Jur. 2d, Insurance, § 205.   C.J.S.   - 44 C.J.S., Insurance, § 461 et seq.   ALR.    - Insanity of insured as excusing lack of, or delay in, notice or proof of accident or disability, 142 A.L.R. 852.   Capacity of minor insured to effect a change of beneficiary, 14 A.L.R.2d 375.