Life & Viatical Settlements

Viatical Settlements is a course designed to meet the needs of viatical brokers requiring certified education to continue their licensing requirements.  It is also designed for insurance agents who wish to either learn about the products and state requirements, or who might sell such products at some time.

Viatical Settlements includes the model acts from both the National Association of Insurance Commissioners (NAIC) and the National Conference of Insurance Legislators (NCOIL).  It also contains state specific information.  For each state, we include a chapter specific to that state’s legislation on Viatical Settlements and related information.

Special attention is given to Stranger-Owned Life Insurance (STOLI) since all who work with viatical settlements must be aware of the potential for abuse in these transactions.

The specific purpose of this course is to educate individuals in the law, including state specific laws, the model acts and the responsibility borne by each person participating in Viatical Settlements, including educational responsibility.

The course includes a final chapter on viatical ethics.  While ethical conduct in general applies to all financial transactions, viaticals need special ethical attention since past abuses have proven excessive.  By reminding participants of their ethical duties, some of which are mandated by law, they cannot say they did not understand their personal responsibilities.