State of Connecticut
 
Connecticut Insurance Department

LIFE SETTLEMENT REGISTRATION

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: $26.00
Reinstatement: $26.00
No pro-rating, non-refundable application fee.

Duration:

Two (2) years – Renews on licensee's birth month every OTHER year.

How to Apply:

Residents:

Non-Residents:

Registration Filing Requirements:

How to Renew:

Not applicable.

How to Amend Lines of Authority:

Not applicable.

How to Reinstate a License:

You would be required to reinstate the producer license first. Then you would be able to submit an amendment application to add the authority back to the license. Apply on the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Renew an Existing License.”

How to change License information: (ie.: demographics)

Update your License Information

Print a copy of the license:

Search and print a license

Initial Education Requirements:

See “How to Apply” section above.

Waivers due to Designations:

None

Renewal Continuing Education (CE) Requirements:

Not applicable.

Cancel the license:

License Cancel/Termination




Connecticut Insurance Department
About Licensing Unit
Email: cid.licensing@ct.gov
Phone: 860-297-3845