Connecticut Viatical Settlement Statutes

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Connecticut Viatical Settlement Statutes

The Legislative Regulations Review Committee approved the Insurance Department’s regulation concerning viatical settlements on February 23, 2000. The regulation was filed with the Secretary of the State and is effective March 1, 2000.

• Read the CT statutes at Connecticut Regulations Viatical Settlements.

Sec. 38a-465-1. Definitions

As used in sections [38a- -1] 38a-465-1 to [38a- -4] 38a-465-10, inclusive:

(1) "Commissioner" means the Insurance Commissioner of the State of Connecticut [.];

(2) "INSURED" MEANS THE PERSON COVERED UNDER A LIFE INSURANCE POLICY OR THE HOLDER OF A CERTIFICATE BEING CONSIDERED FOR VIATICATION;

Statement of purpose: To ensure that viatical settlement payments are reasonable and to provide safeguards for the protection patient identifying information.

Also read:
• Lump Payment or Structured?
A structured settlement involves a financial or insurance arrangement which includes a periodic stream of payments, that a claimant or plaintiff accepts in order to resolve a personal injury claim or other legal case.

• 5 Mistakes When Selling Structured Settlements
• Semi Accidents Plaintiffs Obtain "No Risk" Lawsuit Loans
• NSSTA - National Structured Settlements Trade Association Review

Also read:

• Premium Financing Hedge Uncertainty
Affluent insureds can use leverage to buy life insurance using recourse and nonrecourse premium financing. After two years, the coverage may be sold as a Senior Life Settlement, or retained.

• Presettlement Funding Could Help Injury Victims
It is a new service that can help injured parties while in litigation. This service can provide cash to injury victims for living expenses or to complete the lawsuit, and is non-recourse.

Also read about:

• Annuity Transfer - What are the Risks
• Structured Settlement a Guaranteed Income for those with Disabilities
• Structured Settlement Payments - The Who and The What
• What Is Cash Flow
• No Win No Pay No Risk Attorney Loans Provide Law Firms Financial Options
• Retirees Turn to Annuities for Retirement Planning

• Viatical Settlement Broker

• Cash Flow Notes

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