There are new life settlement regulations
in the State of Idaho designed to protect the consumer. Idaho is just one of many states that has passed new life settlement regulations as a result of anticipated growth in the life settlement industry.
Idaho’s life settlement regulations are very simple. The regulation simply requires a broker of settlement policies be licensed in Idaho and to disclose fees, the value of offers, and contractual arrangements. The regulation also requires a two year waiting period from the time the policy is issued to the time it can be sold in a life settlement. An additional life settlement regulation protecting consumers is the option to rescind a settlement contract within 20 days of the date it was executed.
Providing these consumer protections prevents seniors from life settlement fraud and insures the legitimacy of the life settlement industry.
For more information on life settlement regulation in Idaho or in your state, click the Live PDQ link today!