Examples of Viatical settlement provider in a sentence
If the insured is chronically ill, the provider must meet including the owner of a contract sold or assigned to a viatical requirements similar to those of sections 8 and 9 of the Viatical settlement provider.
Viatical settlement provider includes a person that obtains financing from a financing entity for the purchase, acquisition, transfer or other assignment of one or more viatical settlement contracts, viaticated policies or interests therein, or otherwise sells, assigns, transfers, pledges, hypothecates or otherwise disposes of one or more viatical settlement contracts, viaticated policies or interests therein.
Viatical settlement provider licenses may be renewed from year to year on the anniversary date upon payment of the annual renewal fee of $1,500.
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A viatical settlement contract also includes a contract for a loan or other financial transaction secured primarily by an individual or group life insurance policy, other than a loan by a life insurance company pursuant to the terms of the life insurance contract, or a loan secured by the cash value of a policy.(4a) 'Viatical settlement provider' means a person who enters into a viatical settlement contract with a viator.