Viatical Settlements Model Regulation
Edition and licensing notes
Publisher. National Association of Insurance Commissioners (NAIC)
Edition. NAIC Model Laws, Regulations, Guidelines and Other Resources, October 2013 (see notes: the PDF bundles two editions)
Status. NAIC model, © NAIC. Brief quotations under fair use; not the enacted law of any state until adopted.
What this document is
Viatical Settlements Model Regulation is a naic model law published by National Association of Insurance Commissioners (NAIC). It is one of the documents that insurance license exam questions are written from, including life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.
Sections cited in practice questions
Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.
- Section 7I
“I. No later than the time the application for the viatical settlement contract is signed by all parties, a viatical settlement provider or viatical settlement broker shall provide the viator information describing the process of a viatical settlement. At a minimum, the informational brochure in...”
- Section 8B
“B. A viatical settlement provider shall not act also as a viatical settlement broker, whether entitled to collect a fee directly or indirectly, in the same viatical settlement.”
- Section 9A
“A. Life insurance companies authorized to do business in this state shall respond to a request for verification of coverage from the viatical settlement provider or the viatical settlement broker within thirty (30) calendar days of the date a request is received, subject to the following...”
Practice this material
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