Viatical Settlement and Life Insurance Settlement Regulation

Q: Who Regulates the sale of Viatical and Life Insurance settlements?

A: The viatical settlement and life insurance settlement industries are still developing, and regulation remains weak or non-existent in many states. No federal legislation exists to regulate these industries, and all regulation is left entirely to the states. Most states have some form of regulation for the viatical industry, but few have any regulation for the Life Insurance settlement business.

"We give consumers a one stop shop for all their life insurance information needs."

There is even a great degree of variation between the regulations enacted in different states. The amount of regulation varies from simple registration (no real background checks) all the way through to detailed company investigations, mandatory disclosures and common forms.

If you are considering a viatical or life insurance settlement, the best way to protect yourself is to exercise common sense. Speak with multiple companies, call your state regulator, speak with your state's Better Business Bureau, etc.

Related Viatical and Life Insurance Settlement Questions:

Life Insurance Settlement Tip!

Never cancel an existing life insurance policy until a new policy is in place.

HOME ABOUT US
Copyright Life Insurance Advice 2004. All Rights Reserved.