Approximately half of the states have adopted some legislation purporting to regulate viatical settlements involving terminally ill persons, and legislation is being considered in many other states. Sales of policies of persons who do not meet the definition of “terminally ill” are not regulated in most states. At least eight states have adopted insurance or securities legislation dealing in some form with the activities of viatical settlement providers dealing with investors. The states that have legislated protection of viators are not necessarily the same states that have done so for purchasers.
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