What Key Person Insurance Requirements Apply in Georgia?

A life policy’s guaranty-association death-benefit protection in Georgia is capped at $300,000 per insured life. If your business is insuring more than one key person or buying a large benefit, ask how the state limit applies to each insured and to policies held by the same owner. Georgia’s employee standard turns on the person’s actual duties, their importance to the business, and the person’s particular ability; ordinary work alone does not establish the required substantial expected financial loss. Document the insured’s unique role and what would be disrupted if that person died. Compare your ownership and insured’s role with Ga. Code Ann. § 33-24-3 (employer insurable interest).

What Is Key Person Insurance?

Key person insurance pays the business, not the person’s family, when a founder, partner or employee it relies on dies. Disability, overhead expense and buyout funding are separate products to discuss on their own. Read the national Key person guide.

What Should You Watch for With Key Person Insurance in Georgia?

Document the Business Interest
Georgia’s employee standard turns on the person’s actual duties, their importance to the business, and the person’s particular ability; ordinary work alone does not establish the required substantial expected financial loss. Document the insured’s unique role and what would be disrupted if that person died. ¹
Complete Written Notice and Consent
Georgia’s consent rules include corporate notice and, for certain private corporations, written consent acknowledging that coverage can continue after employment ends. Ask whether your entity falls under the state’s two-employee or public-company rule and preserve the required notice. ^2,³
Check the State Guaranty Backstop
A Georgia resident’s life death-benefit backstop is listed at $300,000. The limit does not establish the issuing insurer’s strength; verify the carrier and policy owner. Compare it with the benefit you intend the business to collect. For issuance, also check Ga. Code Ann. § 33-24-3 (employer insurable interest). ^4,^5,¹

Which Key Person Insurance Providers Have Georgia License Records?

These providers publish a national listing for Key person; the license records below name the licensed entities and roles. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Georgia. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

Vouch
Insurance producer · checked 2026-09-28
Vouch Specialty Insurance Services, LLC
Vouch’s licenses page, effective January 16, 2025, lists producer licenses in all 50 states and DC. Its separate surplus-lines table includes Idaho number 870820, while a footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses. Because those statements conflict for Idaho, this record keeps Idaho producer-only and does not treat the table number as established agency surplus-lines authority. The page is company-reported and does not establish product availability. ¹⁶
Vouch arranges key person coverage for technology businesses.

Who Regulates Insurance in Georgia?

Georgia Office of Commissioner of Insurance and Safety Fire

Georgia’s elected Insurance and Safety Fire Commissioner licenses and regulates insurance companies and insurance professionals, investigates insurance fraud, and oversees consumer complaint services. The Office’s state license lookup covers agents, agencies, and companies. ^6,^7,⁸

Website: Regulator website
License lookup: Search licensed producers
Complaints: File a complaint
Phone: (800) 656-2298

Surplus-Lines Tax and Stamping Office in Georgia

Reported tax rate. 4% of total premium when Georgia is the home state ⁹

Georgia charges 4% on the total premium written and received by a surplus-lines broker when Georgia is the insured’s home state. Current fee treatment is not described here because the Department’s latest fee bulletin could not be retrieved as readable text; ask your broker for the policy-declaration and tax breakdown. This record does not state a Georgia-specific guaranty-fund conclusion.

What Should You Ask Before Buying Key Person Insurance in Georgia?

What Georgia law supports our business’s insurable interest in this person, and what should we retain to prove the role?
What written notice and consent must the insured receive before this policy is issued, and can coverage continue after employment ends?
How would Georgia’s guaranty-association limit apply to this policy and our other business-owned life policies?

Key Person Insurance in Georgia: Frequently Asked Questions

How much of a key person life policy is protected if an insurer fails in Georgia?

Life death-benefit coverage for Georgia is shown as $300,000. That is an insolvency backstop, not the face amount you can insure. NOLHGA reports an aggregate $5 million limit for one owner’s multiple nongroup life policies. ^4,⁵

Does my business need an employee’s consent for key person insurance in Georgia?

Yes. Federal rules require written notice and consent before issue for the employer-owned life tax exception. Georgia’s consent rules include corporate notice and, for certain private corporations, written consent acknowledging that coverage can continue after employment ends. Ask whether your entity falls under the state’s two-employee or public-company rule and preserve the required notice. Confirm the stated maximum face amount matches the application. For state-law details, check Ga. Code Ann. § 33-24-3 (employer insurable interest). ^2,^3,¹

Sources for Key Person Insurance in Georgia

1
2025 Georgia Code § 33-24-3 — Insurable Interest; Personal Insurance. State statute (Justia U.S. Codes and Statutes); Ga. Code Ann. § 33-24-3 (employer insurable interest). Accessed 2026-09-28.
2
26 U.S.C. § 101(j) — Certain employer-owned life insurance contracts. Office of the Law Revision Counsel, U.S. House of Representatives; 26 U.S.C. § 101(j)(2), (4). Accessed 2026-09-28.
3
Internal Revenue Bulletin 2009-24 — Employer-Owned Life Insurance Contracts. Internal Revenue Service; Notice 2009-48, Q&A 6–7; written notice and consent. Accessed 2026-09-28.
4
How You’re Protected: Coverage Levels by State. National Organization of Life & Health Insurance Guaranty Associations; Coverage Levels by State; life insurance death benefits; report current as of May 2025. Accessed 2026-09-28.
5
Life and Health Insurance Guaranty Association Model Act. National Association of Insurance Commissioners; Section 8(A)(2)(d), owner aggregate benefit cap. Accessed 2026-09-28.
6
Office of Commissioner of Insurance and Safety Fire. Georgia Office of Commissioner of Insurance and Safety Fire; Official homepage; regulator role, elected commissioner, complaint and license lookup links. Accessed 2026-09-28.
7
Agents, Agencies and Licensing. Georgia Office of Commissioner of Insurance and Safety Fire; Official state license lookup for agents, agencies, and companies. Accessed 2026-09-28.
8
Report Complaints & Fraud. Georgia Office of Commissioner of Insurance and Safety Fire; Consumer Services complaint instructions and official complaint portal. Accessed 2026-09-28.
9
Non-Admitted Insurance: Premium Tax FAQs. Georgia Office of Commissioner of Insurance and Safety Fire; 4% applies to total broker-written and received premium when GA is home state. Accessed 2026-09-28.
10
Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
11
Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
12
Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
13
About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
14
Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
15
Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
16
Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

What Key Person Insurance Requirements Apply in Georgia?

What Is Key Person Insurance?

What Should You Watch for With Key Person Insurance in Georgia?

Document the Business Interest

Complete Written Notice and Consent

Check the State Guaranty Backstop