Here is some of the proposed legislation for a New York Life Settlement.
The disclosure of significant life settlement contract provisions.
The disclosure of affiliations or contractual arrangements among parties involved in a transaction.
A complete and accurate description of all offers and counter-offers relating to the sale of the life insurance policy.
A reconciliation for the policy owner [...]
This is good news for regulation and licensing..
Illinois Governor Pat Quinn has signed a new law prohibiting stranger-originated life insurance transactions.
The law, Senate Bill 2091, also aims at protecting state consumers who enter into viatical settlements.
STOLI transactions involve a third party encouraging a senior to acquire a life insurance policy, then paying the premium on [...]
Oregon Gov. Ted Kulongoski signed life settlement legislation Tuesday that requires insureds to hold on to financed policies for five years after issuance before they can sell them on the secondary market.
SB 973 was proposed by the American Council of Life Insurers (ACLI) and caught the life settlement industry by surprise. Settlement [...]
