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  • Each person or entity licensed as a Life Settlement Broker or Provider must also be licensed for the Life line of authority as an Idaho Producer.
  • All life settlement contract forms and disclosure statements must be filed with the Department of Insurance before being used in Idaho
  • Life settlement providers and brokers will be subject to examination by the Department and must retain life settlement records for at least five years
  • Life settlement providers or brokers must provide specific disclosures to the policy owner at or before the time a life settlement contract is signed by the owner
  • The Act provides the policy owner with an absolute right to rescind a settlement contract within 20 days of the date it was executed
  • The Act identifies prohibited practices relating to life settlement transactions

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