A life settlement provider buys a policyholder’s life insurance policy, usually for less than the policy’s face value. The policyholders are often terminally ill and need the money for medication or treatment. The companies provide an early payout to the policyholder, assume the premium payments, and collect the face value of the policy upon the policyholder’s death.
Life settlement providers
Life settlement providers are required to register with us and file financial information annually.
Resources for your organization
- Learn the different parts of the anti-fraud plan that insurers are required to submit to our office.
- Learn how life settlement providers can register to do business in Washington state.
- Learn what life settlement providers must submit as part of their annual financial information filing requirements.
- Insurers and producers are required to notify our office when security breaches occur that involve private consumer information (i.e., Social Security numbers, etc.).