|
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 to Viators
Florida's new law (enacted
1999) includes requirements for disclosures that must be made to people who sell their
life insurance. These disclosures apply if
 | the viator is a resident of
Florida but the company is based outside the state |
| to companies that do business
from a Florida location, if the viator lives in another state but that other state
does not have statutes or regulations to protect viators. The disclosures apply, as well,
if viatical companies provide a loan against the death benefit (instead of an outright
sale). |
The requirement:
| "A viatical settlement
broker shall disclose to a prospective viator the amount and method of calculating the
broker's compensation. The term 'compensation' includes anything of value paid or given to
a viatical settlement broker for the placement of a policy."
 | This means disclosure should
be made when application materials are given to you by the broker -- not with closing
papers.
|
| Compensation may be cash,
bonuses, items (e.g. television, hand calculator, cell phone), luxury vacations, etc. |
|
| |
To
Order Books
Click links
at the bottom
of the page
|
