Like many States across the nation, Colorado life settlement regulation has been passed in an effort to protect consumers from fraud. Colorado life settlement licensing requirements have been updated and streamlined to provide properly licensed brokers. The State of Colorado also requires brokers and agents to obtain continuing education requirements in order to maintain a license in that State. Information about licensing requirements for agents and brokers in Colorado can be found on the Department of Insurance website.
Colorado life settlement regulation has recently targeted viatical settlements and potential fraud. A viatical settlement is one wherein the insured is terminally or chronically ill and sells a life insurance policy to cover medical expenses and /or maintain a quality of life until the time of death. The new regulation in Colorado is aimed to prevent stranger oriented policy purchases for the purpose of a quick financial return when the insured dies.
Click the LIVEpdq link to learn more about Colorado regulation and for a free life settlement evaluation today!