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We do not buy
or sell
viatical contracts
(not the actual cover)
   
In sympathy
with people
from 86 nations
who lost loved ones
on 9-11 | |
Disclosures for Florida Investors
Florida law now requires the following
disclosures to investors/purchasers:
 | That the return represented as being
available under the viatical settlement purchase agreement is directly tied to the
projected life span of one or more insureds.
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| If a return is represented, the disclosure
shall indicate the projected life span of the insured or insureds whose live or lives are
tied to the return.
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| If required by the terms of the viatical
settlement purchase agreement that the viatical settlement purchaser shall be responsible
for the payment of insurance premiums on the life of the insured, late or surrender fees,
or other costs related to the life insurance policy on the life of the insured or
insureds, these expenses may reduce the return.
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| The amount of any trust fees, commissions,
deductions, or other expenses, if any, to be charged to the viatical settlement purchaser.
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| The name and address of the person
responsible for tracking the insured.
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| That group policies may contain limitations
or caps in the conversion rights, that additional premiums may have to be paid if the
policy is converted, and that the party responsible for such additional premiums shall be
identified.
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| That the life expectancy and rate of return
are only estimates and cannot be guaranteed.
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| That the purchase of a viatical settlement
contract should not be considered a liquid purchase since it is impossible to predict the
exact timing of its maturity, and the funds may not be available until the death of the
insured.
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| The name and address of the person with the
responsibility for paying the premium until the death of the insured. |
These disclosures must be conspicuously
displayed in any viatical settlement purchase agreement and in any
solicitation material furnished to investors. It must be in contrasting color and not less
than 10-point type.
Ed. Note: If a
Florida-based company does not provide these disclosures, or if you are a Florida resident
and do not receive these disclosures from an out-of-state company, garbage the package and
look for another company.
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