Plain English Breakdown
The bill title states 'assignment... of a deceased individual,' which implies the mechanism for assigning these funds happens in relation to the person's status as deceased, rather than an action taken by them while alive. The exact legal process is not detailed in the summary text.
Using Life Insurance Benefits to Pay for Funerals
This law allows members of specific Georgia retirement systems to assign their group term life insurance benefits specifically to pay for funeral services after they die.
What This Bill Does
- Amends Chapter 19 of Title 47 of the Official Code of Georgia Annotated regarding the State Employees' Assurance Department.
- Provides a way for deceased individuals who were members of specific retirement systems to assign group term life insurance benefits for funeral services.
- Includes new definitions related to these benefit assignments.
- Repeals any existing laws that conflict with this change.
Who It Names or Affects
- Members of the Employees' Retirement System of Georgia
- Members of the Georgia Legislative Retirement System
- Members of the Georgia Judicial Retirement System
Limits and Unknowns
- The official text does not specify how much money can be used for funeral services.
- The source material does not explain the steps families must take to use these benefits.