Life settlement definition

Life settlement means a viatical settlement in which the viator has not been diagnosed as terminally or chronically ill. For purposes of these rules, unless otherwise distinguished, the term “life settlement” shall be synonymous with viatical settlement.
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Life settlement means an agreement regarding the terms under which compensation or any thing of value will be paid, which compensation or thing of value is less than the expected death benefit of the policy but greater than the cash sur- render value or accelerated death benefit available under the pol- icy at the time of the application for the life settlement, in return for the owner’s present or future assignment, transfer, sale, devise, or bequest of the death benefit or any interest in a policy. “Life settlement” includes all of the following:
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Life settlement means an agreement that is solicited, negotiated, offered, entered into, delivered, or issued for delivery in this state under which a person pays compensation or anything of value that is less than the expected death benefit of a policy insuring the life of an individual who does not have a catastrophic or life-threatening illness or condition in return for the policy owner’s or certificate holder’s assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the policy;
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Examples of Life settlement in a sentence

  • Life settlement contracts, applications and other forms as may be prescribed by regulation must be filed with and approved by the Department.

  • The Life Only or Joint Life settlement option was selected for this immediate annuity contract.

  • Carolina Texas Florida Pennsylvania New Jersey Life Settlement Market Organized Largely as an Informal Network of Specialized Intermediaries Life settlement providers purchase life insurance policies from policy owners, agents, or life settlement brokers on behalf of investors for a fee or commission or for their own account.

  • Life settlement companies have sought to cause the enactment of laws and regulations which limit theability of Life Settlement Policy providers to purchase, and original owners to sell, Life Settlement Policies, and there is no assurance that life settlement companies will not continue to seek adoption of such laws and regulations.

  • Life settlement contracts, applications and other forms will have to be filed with and approved by the Department.

  • Life settlement associations can play a vital role in enforcing standards.

  • Life settlement returns are not correlated to equities or bonds and are an increasingly common investment for pension funds.The Fund is also invested in life settlements through a synthetic swap with Credit Suisse.We are comfortable that the investments are consistent with our Responsible Investment Framework and that key risks relating to transparency and distressed sales are carefully managed.

  • Life settlement brokers must pay a $50 application fee, while life settlement sales agents, licensed as life insurance agents, must pay the application and license fees that currently apply to such agents.

  • Life settlement companies may seek to delay the transfer of a Life Settlement Policy being acquired in a secondary life settlement market transaction or payment of death benefits under a Life Settlement Policy which has been sold in a secondary life settlement market transaction, especially when they may believe the initial premiums for such Life Settlement Policies might have been financed, directly or indirectly, by an investor without insurable interest in the insured.

  • Life settlement investors almost exclusively devote zero dollars to the savings account.


More Definitions of Life settlement

Life settlement means an agreement that is solicited, negotiated, offered, entered into, delivered, or issued for delivery in this state under which a person pays anything of value that is:
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Life settlement means a written agreement:
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Life settlement means a transaction whereby a Policy insuring the life of an individual who does not then have a Viatical Settlement Illness or Condition is purchased by compensating the owner of that Policy with anything of value that is less than the Death Benefit Amount of the Policy.
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Life settlement means an agreement entered into between a company and an insured that establishes the terms under which the company will pay compensation or anything of value, which compensation or value is less than the expected death benefit of the insurance policy, in return for the insured’s assignment, transfer, sale, devise or bequest of the death benefit or ownership of the insurance policy to the company;
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Life settlement means an agreement regard- ing the terms under which compensation or any thing of value will be paid, which compensation or thing of value is less than the expected death benefit of the policy but greater than the cash surrender value or accelerated death benefit available under the policy at the time of the
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Life settlement means when a person, who does not have a terminal or chronic illness, sells a life insurance policy to a third party, usually a viatical settlement provider, for less
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Related to Life settlement

  • Individual Settlement Payment means the amount payable from the Net

  • Structured settlement means an arrangement for periodic payment of damages for personal injuries established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers’ compensation claim.

  • Standard Settlement Period means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

  • Structured settlement payment rights means rights to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, where:

  • Structured settlement agreement means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement.

  • Settlement Date means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

  • Master Settlement Agreement means the settlement agreement and related documents entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers.

  • Gross Settlement Amount means $350,000 which is the total amount Defendant agrees to pay under the Settlement except as provided in Paragraph 8 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, the Class Representative Service Payment, and the Administrator’s Expenses.

  • Net Share Settlement means the settlement method pursuant to which an exercising Warrantholder shall be entitled to receive from the Company, for each Warrant exercised, a number of shares of Common Stock equal to the Net Share Amount without any payment therefor.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Optional Redemption Settlement Date means the second Valuation Date after the Optional Redemption Pricing Date, provided that such Valuation Date is not a Disrupted Day and that such Valuation Date is both a Currency Business Day and a Clearing System Business Day.

  • Combination Settlement shall have the meaning specified in Section 14.02(a).