Text Size:

Home

Law Advice

Insurance Advice

Home > Law Advice > Viaticals > Life Settlement

Viaticals
	All States		Legal Forms

What is a life settlement?

Another type of transaction, often called a “life settlement,” is the sale of a life insurance policy to a third party, where the insured individual does NOT have a known life-threatening or terminal illness or condition. In these cases the policy owner also receives cash for the policy.

There has been a growing market for the purchase and sale of policies that do not meet the traditional definition of a viatical settlement. Typically these transactions involve life insurance policies of a large face amount (often $250,000 or more), or involve “key-person” coverage or corporate owned life insurance or policies representing excess coverage that is no longer needed. These transactions are generally not regulated by most states’ viatical laws, therefore the limited licensing and disclosure requirements of viatical transactions would not apply.

Next FAQ
Related FAQs

Related Information
» General Questions

Topics Related To Viaticals
» Insurance Law	» Auto Insurance	» Business Insurance
» Long Term Care	» Disability Insurance	» Health Insurance
» Insurers Bad Faith	» Life Insurance Law	» Property Insurance
» Viaticals

Find an Attorney

Topic

Attorney Pages

Find recommended lawyers by state and city.

AttorneyPages.com

» Ask a question in our legal forum

» Download do-it-yourself legal forms

» Search our legal resource directory

» Find an attorney in your area

» Let us find a lawyer for you

Resource Links

Find Lawyers

Free Case Review

State Law Center | Legal Links | Site Map | Privacy Policy | Media | About Us | Contact Us

freeadvice® has been providing millions of consumers with outstanding advice, free, since 1995.
While not a substitute for personal advice from a licensed professional, it is available AS IS, subject to our disclaimer and conditions of use.
freeadvice®, AttorneyPages®, ExpertPages®, and LegalSoapbox™ are units or affiliates of Advice Company.
All Rights Reserved © 1995-2008