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Does my state regulate Viatical or Life Settlements?

life regulate settlements State viatical
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Does my state regulate Viatical or Life Settlements?

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Viatical/Life Settlements are regulated by state insurance departments. Some states have enacted statutes addressing the sale of life insurance policies insuring non-terminally ill individuals. Some states only have laws that regulate the sale of life insurance policies insuring terminally or chronically ill individuals. Other states do not regulate the transaction at all. Of those states that regulate the transaction, most require both the Viatical/Life Settlement Broker (facilitator of the transaction) and Viatical/Life Settlement Provider (purchaser of the policy) to be licensed. The National Association of Insurance Commissioners (NAIC) website provides a link on its homepage to each state’s Department of Insurance (DOI) website. You should check with the DOI in your state for the most up to date information on licensing requirements. What should I do if I’m interested in learning more? There are companies that specialize in these types of transactions. These are bro

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