Before you apply
Life settlement providers and their licensing process are defined in RCW 48.102 and WAC 284-97. If you're applying, it's your responsibility to understand these chapters and other applicable statutes. You need to be licensed before you solicit, negotiate or enter into a life settlement contract in our state.
Carefully review what's required of you before you apply for your life settlement provider license.
How to apply for your license
- Download and complete the life settlement application (PDF 861.84KB) and gather all the requested documents including the anti-fraud plan (PDF 177.47KB), biographical affidavit and service of legal process form (PDF 802.93KB).
- Print your completed application and have it signed by an authorized officer and notarized.
- Combine the application, supplemental documents and any cover letter into a single PDF document.
- Attach your PDF and submit your application via email.
- Submit your application fee payment to one of our mailing addresses.
We acknowledge applications upon receipt.
Application fee
A non-refundable application fee of $250 is required with your application. You can send your payment to:
Mailing address
Attn: Company Supervision Division
Office of the Insurance Commissioner
PO Box 40255
Olympia, WA 98504-0255
Delivery (street) address:
Attn: Company Supervision Division
Office of the Insurance Commissioner
5000 Capitol Blvd SE
Tumwater, WA 98501
USPS will only accept the PO Box mailing address and does not allow other shippers to use that address. All non-USPS shippers must use the street address. Use of an incorrect address may result in a returned application.
After you apply
Applications are assigned to our analysts in the order they're received. Once assigned, an analyst will reach out to the contact listed in question 8 in your application. If there's someone else who should be contacted, be sure to include their contact information in your application.
If you meet all requirements and any errors in your application are resolved within 15 business days, we'll issue your license by email.
Licenses are effective for a year and expire on June 30 unless suspended, revoked, or not renewed before the expiration date.
Licensee responsibilities
Licensed life settlement providers have legal, financial and reporting requirements.
Form filings
Once you're licensed, we need to approve any contract and disclosure forms before you can use them. File your forms electronically using SERFF.
Contact our Rates and Forms Help Desk at 360-725-7111 or email rfhelpdesk@oic.wa.gov if you have form filing-related questions.
Annual reporting and renewal fee
Licensed life settlement providers need to complete an annual financial statement report on or before March 1 each year. They'll also need to renew their license each year by July 1 and submit a $250 renewal fee.
If we don’t receive your renewal fee before July 1, you must pay an additional surcharge with the renewal fee.
For the first 30 days, the surcharge is 50% of the renewal fee.
For the next 30 days, the surcharge is 100% of the renewal fee.
If we don’t receive the fee after 60 days, you need to pay the renewal fee and a 200% surcharge to reinstate your license.