Life Settlement Provider
Definition
LIFE SETTLEMENT – Payment of a portion of the proceeds from Life Insurance to an Insured who is terminally ill.
LIFE SETTLEMENT BROKER LICENSE – Authority to advertise/advise a person on availability of life settlement (for fee, commissions or other valuable consideration). Represents only Viator's interests.
LIFE SETTLEMENT PROVIDER LICENSE – Authority to enter into or effectuate a Viatical or Life Settlement contract.
Applicable Statutes
C.G.S. §38a-465 – see Laws and Regulations
Fees
Initial: $40.00
Reinstatement: $40.00
Renewal: $40.00
No pro-rating, non-refundable application fee.
Duration
One (1) year – Renews March 31st EVERY year.
How to Apply
Apply on the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Apply for a New License.”
How to Renew
- Renewal notices are EMAILED about 90 days before the expiration date.
- Apply on the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Renew an Existing License.”
How to Amend Lines of Authority
Not applicable.
How to Reinstate a License
Apply on the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Apply for a New License.”
How to change License information (ie.: demographics)
Update your License Information
Print a copy of the license
Initial Education Requirements
Not applicable.
Waivers due to Designations
Not applicable.
Renewal Continuing Education (CE) Requirements
Not applicable.