Final answer:
In Georgia, the contract of life insurance constitutes the policy document, any riders, amendments, and the application. It outlines all terms including coverage, premiums, benefits, and the cash value for whole life policies.
Step-by-step explanation:
In Georgia, the entire contract of life insurance between the parties includes the written policy document, any attached riders or amendments, and the application for insurance. Together, these documents constitute the full agreement between the insurer and the insured. This means that any promises, clauses, and conditions affecting the coverage, the premium, the benefits, and any other terms of the insurance are bound within these materials. Notably, cash-value (whole) life insurance is a type of policy that not only provides a death benefit but also accumulates a cash value over time, which the policyholder can use during their lifetime.