State of Connecticut
 
Connecticut Insurance Department


LIFE SETTLEMENT BROKER (Individuals & Business Entity)


Definition:
LIFE SETTLEMENT - Payment of a portion of the proceeds from Life Insurance to an Insured who is terminally ill.
LIFE SETTLEMENT BROKER LICENSE - Authority to advertise/advise a person on availability of life settlement (for fee, commissions or other valuable consideration). Represents only Viator's interests.
LIFE SETTLEMENT PROVIDER LICENSE - Authority to enter into or effectuate a Viatical or Life Settlement contract.
Applicable Statutes:
CGS §38a-465 - see Laws and Regulations
Fees:
Initial: $66.00
Reinstatement: $66.00
Renewal: $40.00
No pro-rating, non-refundable $26.00 application fee
Duration:
One (1) year - Renews April 1st EVERY year.
How to Apply:
Apply on the Department's website at ONLINE Application Select “Online Application for Individuals” or “Online Application for Business Entities”
How to Renew:
Renewal applications are EMAILED about 90 days before expiration date.
The Department does not accept online renewals for this license type.
How to Amend Lines of Authority:
Not applicable
How to Reinstate a License:
After April 1st EVERY year, Reinstate the license by applying on the Department's website at ONLINE Application Select “Online Application for Individuals” or “Online Application for Business Entities”
How to change License information: (ie: email and address)
Update your License Information
Print a copy of the license:
Search and print a license
Initial Requirements:
Anti-Fraud Plan required
Waivers due to Designations:
None
Renewal Continuing Education (CE) Requirements:
Resident individuals with only a LIFE SETTLEMENT BROKER license need 15 hours of continuing education in the Life/Health category every two years.
Cancel the license:
License Cancel/Termination
Important Information:
Life Settlement Registration




Email: cid.licensing@ct.gov
Phone: 860-297-3845