Viatical Settlement  Licenses

Each state has its own rules for obtaining viatical settlement licenses. This site mostly covers California's rules. All people and entities engaging in the following activities must obtain a viatical settlement license from the Commissioner:

1.  Purchasing life insurance policies from insureds or certificate holders with life-threatening or catastrophic illnesses or conditions requires a Viatical Settlement Provider's License.

2.  Assisting insureds or certificate holders who have life-threatening or catastrophic illnesses or conditions by selling their life insurance policies requires a Viatical Settlement Broker's License.

3.  Selling investments in viatical settlements involving insureds or certificate holders with life-threatening or catastrophic illnesses or conditions requires a Viatical Settlement Broker's License.

In California, to obtain a Viatical Settlement License Application Packet, call Gleceria Valerio (415) 538-4415 or send your request via fax or mail to:

The California Department of Insurance
Legal Division
45 Fremont Street, 19^th Floor
San Francisco, CA 94705
FAX: (415) 904 -5729, ATTN: Gleceria Valerio, Legal

The application fee for a Viatical Settlement License is $3,272.00.  The application process can take 2 months or more depending on whether the application is complete and whether the applicant is responsive and cooperates with the department during the review process.  The viatical settlement statute is contained at Sections 10113.1 and 10113.2 of the California Insurance Code.