Viatical settlement contract definition

Viatical settlement contract or “contract” means a written agreement entered into between a provider and a viator in which the provider will pay consideration that is less than the expected death benefit of the viator's policy in return for the viator's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the policy to the provider.
Sample 1Sample 2Sample 3
Viatical settlement contract means a written agreement between a viator and a viatical settlement provider establishing the terms under which compensation or anything of value is or will be paid, which compensation or value is less than the expected death benefits of the policy, in return for the viator's present or future assignment, transfer, sale, devise, or bequest of the death benefit or ownership of any portion of the insurance policy or certificate of insurance.
Sample 1Sample 2Sample 3
Viatical settlement contract means a written agreement
Sample 1Sample 2Sample 3

Examples of Viatical settlement contract in a sentence

  • Viatical settlement contract means an agreement for the purchase, sale, assignment, transfer, devise, or bequest of all or any portion of the death benefit or ownership of a life insurance policy or contract for consideration which is less than the expected death benefit of the life insurance policy or contract.

  • Plaintiffs' “allegations clearly raise class-wide legal and factual issues sufficient to satisfy the [commonality] requirement.” Moreover, typicality was assured by the “broadly selected cross-section ...

  • Viatical settlement contract issuers and registered agents of issu- ers must provide specific, written disclosures of risk to Iowa investors at the time of the initial offer to sell a viatical settlement contract.

  • The advertisement shall not be used in Iowa until a copy thereof, marked with allowance for use, has been received from the administrator.50.120(3) Viatical settlement contract advertisements should contain no more than the following:a.

  • The term does not include an34 attorney, accountant or financial planner retained to represent the35 viator whose compensation is paid directly by or at the direction of the36 viator.37 "Viatical settlement contract" means a written agreement entered38 into between a viatical settlement provider and a viator.


More Definitions of Viatical settlement contract

Viatical settlement contract means a written
Sample 1Sample 2Sample 3
Viatical settlement contract means an agreement for the purchase, sale,
Sample 1Sample 2Sample 3
Viatical settlement contract means any of the following:
Sample 1Sample 2Sample 3
Viatical settlement contract means a written agreement establishing the terms under which compensation or anything of value will be paid, which compensation or value is less than the expected death benefit of the policy, in return for the viator's assignment, transfer, sale, or devise of the death benefit or ownership of any portion of the policy. A viatical settlement contract also includes a contract for a loan or other financing transaction with a viator secured primarily by a policy, other than a loan by a life insurance company under the terms of the life insurance contract, or a loan secured by the cash value of a policy. A viatical settlement contract includes an agreement with a viator to transfer ownership or change the beneficiary designation at a later date regardless of the date that compensation is paid to the viator.
Sample 1Sample 2Sample 3
Viatical settlement contract means an agreement for the purchase, sale, assignment, transfer, or devise of all or any portion of the death benefit or ownership of a life insurance policy or contract for consideration which is less than the expected death benefit of the life insurance policy or contract. "Viatical settlement contract" does not include:
Sample 1Sample 2Sample 3
Viatical settlement contract means a written agreement entered into between a viatical settlement provider and a person owning a life insurance policy or who owns or is covered under a group policy insuring the life of a person who has a catastrophic or life threatening illness or condition. The agreement shall establish the terms under which the viatical settlement provider will pay compensation or anything of value, which compensation or value is less than the expected death benefit of the insurance policy or certificate, in return for the policyowner's assignment, transfer, sale, devise, or bequest of death benefit or ownership of the insurance policy or certificate to the viatical settlement provider;
Sample 1Sample 2Sample 3
Viatical settlement contract means a written agreement providing for and establishing the terms of a viatical settlement.
Sample 1Sample 2Sample 3