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OK to buy life insurance with intent to resell it, Georgia court rules

OK to buy life insurance with intent to resell it, Georgia court rules
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Georgia Supreme Court Holds Life Insurance Policies Taken Out With Intent to Sell are Lawful | ArentFox Schiff

On October 25, 2022, the Supreme Court of Georgia answered a certified question from the Eleventh Circuit Court of Appeals concerning Georgia’s insurable interest statute, OCGA §.

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Georgia Finds Life Insurance Policies With Intent To Sell Are Legal

In Crum v. Jackson National Life Insurance Company, the question was is a life insurance policy an illegal wagering contract if the insured takes out the policy on his own life with the intent to sell the policy with no insurable interest. Georgia Supreme Court ruled it was.

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