Understanding Viatical Settlements – California


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Course Description

California Course Approval Number: 385238

This course represents 6 Credit Hours of State Certified Continuing Education.

Understanding Viatical Settlements

Understanding Viatical Settlements introduces students to the life settlement industry. It discusses the development of the secondary market for life insurance policies and identifies the benefits such a market brings to both insurers and consumers. The settlement process is examined, and each step in the process is discussed.

Upon completion of the course, the student should be able to:

  • Explain how and why the life settlement industry developed in the United States;
  • Identify the markets for life settlements;
  • Describe the process by which a policyowner obtains a settlement offer;
  • Discuss the distinctions between viatical and life settlements;
  • Identify the significant market conduct issues affecting life settlements;
  • Describe the disclosures that must be made in connection with life settlements;
  • Explain the tax treatment of life insurance policies sold in the secondary market;
  • Discuss the regulations affecting life settlements; and
  • Explain the public policy concern in connection with stranger-originated life insurance and the provisions of the NAIC Viatical Settlements Model Act to eradicate it.