Common Contracts
1 similar Viatical Settlement Agreement contracts
VIATICAL SETTLEMENTS: NO SUICIDE AGREEMENTViatical Settlement Agreement • September 19th, 2022
Public Act 386 of 1986 regulates viatical settlement contracts. Such a contract is a written agreement between the owner or holder of a life insurance policy who has a terminal illness or condition (a “viator”) and a person or entity who “buys” the policy at a cost below the amount of the death benefit (a “provider”). House Bill 4764 would amend the act to prohibit a provider from offering to provide or from providing any payment to a viator conditioned on the viator’s agreement to commit suicide.
