June 2010, Volume 4, Issue 6 |
Exploring the life settlement option for clients |
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By Linda Koco - Insurance producers who want to transact life settlements need to check the settlement licensing rules in the states where they want to do business. That's because the rules are changing, and they vary from state to state. The culprit is all the new life settlement legislation has come on the books in recent years. Five years ago, only about five states had life settlement laws, but today, 40 states have these laws, and many of them differ in licensing requirements as well as in other areas. The states may ask producers to take prelicensing and continuing education courses, supply current licensure details, provide fingerprints, photos, background information and…
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Question: My first settlement transaction attracted only two bids, and both were close in dollar amount. Is that what I should expect on settlement transactions, or do most cases typically attract more bids and that differ significantly in amount?
How many life settlement providers have already received the okay from the New York Insurance Department to do business in the state under New York's new life settlement law?
a) Five
b) Thirteen
c) Twenty-seven
d) Thirty-three
e) Thirty-nine
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see the number
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