Home Life insurance Life settlement Who regulates life settlements and viaticals? Who regulates life settlements and viaticals? Written by Insure.comPosted on: December 7, 2009 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. Laws regarding life settlement and viatical transactions vary from state to state. While many states have adopted the National Association of Insurance Commissioners’ model law for viaticals, regulations for life settlements remain spotty. The chart below shows which department is responsible for regulating these transactions. Where life settlements are not mentioned, such as New York, they are not regulated. Some states may encompass life settlements in their viatical laws, which may not be reflected in the chart. StateWho has jurisdiction?AlabamaViaticals: Insurance department and securities regulatorAlaskaViaticals: Insurance department and securities regulatorArizonaViaticals and life settlements: Securities regulatorArkansasViaticals: Insurance departmentCaliforniaViaticals: Insurance department and securities regulatorColoradoViaticals: Insurance department regulates transaction between insured and provider; securities department regulates transaction between providers and investors.ConnecticutViaticals: Insurance departmentDelawareViaticals: Insurance departmentFloridaViaticals: Insurance departmentGeorgiaViaticals and life settlements: Insurance department regulates transaction between insured and provider; securities department regulates transaction between providers and investors.HawaiiViaticals and life settlements: Insurance departmentIdahoViaticals and life settements: Securities directorIllinoisViaticals: Insurance departmentIndianaViaticals: Insurance departmentIowaViaticals and life settlements: Insurance departmentKansasViaticals: Insurance departmentKentuckyViaticals: Insurance departmentLouisianaViaticals: Insurance departmentMaineViaticals and life settlements: Insurance departmentMarylandViaticals: Insurance departmentMassachusettsViaticals: Insurance departmentMichiganViaticals: Insurance departmentMinnesotaViaticals: Commerce CommissionerMississippiViaticals: Insurance departmentMissouriUnregulatedMontanaViaticals and life settlements: Insurance departmentNebraskaViaticals: Insurance departmentNevadaViaticals: Insurance departmentNew HampshireUnregulatedNew JerseyViaticals: Insurance departmentNew MexicoViaticals: Insurance departmentNew YorkViaticals: Insurance departmentNorth CarolinaViaticals: Insurance department and securities departmentNorth DakotaViaticals: Insurance departmentOhioViaticals: Insurance department and securities departmentOklahomaViaticals and life settlements: Insurance departmentOregonViaticals and life settlements: Department of Consumer and Business Services (which includes insurance department)PennsylvaniaViaticals: Insurance departmentRhode IslandUnregulatedSouth CarolinaSecurities regulatorSouth DakotaViaticals: Securities regulatorTennesseeViaticals and life settlements: Department of insurance and commerceTexasViaticals and life settlements: Insurance departmentUtahViaticals: Insurance departmentVermontViaticals: Commissioner of banking, insurance and securitiesVirginiaViaticals: Insurance departmentWashingtonViaticals: Insurance departmentWashington, D.C.UnregulatedWest VirginiaViaticals: Office of Insurance CommissionerWisconsinViaticals: Insurance departmentWyomingUnregulatedSource: Life Insurance Settlement Association & state sources Related ArticlesLife settlements: To sell or not to sellLife settlements FAQAlternatives to life settlementsThe history of life settlementsMore life settlement information × Get Free Life Insurance Quotes Today! Zip Code Please enter valid zip Age Age 16 – 20 21 – 24 25 – 34 35 – 44 45 – 54 55 – 64 65+ Coverage Amount Coverage Amount $50,000 – $100,000 $100,000 – $200,000 $200,000 – $300,000 $400,000 – $500,000 $500,000 – $1,000,000 $1,000,000 – $2,000,000 $2,000,000 – $5,000,000 $5,000,000+ Coverage Type Coverage Type Whole Life Term Life Final Expense Not Sure Gender Gender Male Female Non-Binary Tobacco Use Yes No Compare Quotes QuickTake Should you sell your life insurance policy? Life settlements industry tries a new spin: Health care funds "For sale by owner": How does a life insurance policy feel?! Life settlement articles Alternatives to life settlements Life settlements FAQ The history of life settlements and viaticals The Larry King case: How not to do a life settlement Life settlements: To sell or not to sell? Investing in life settlements and viaticals Life settlement and viatical glossary Tips on selling your life insurance policy: Understanding viaticals and life settlements See more > Related Articles Term Life Insurance Index: Sales rise by 1% in Q2, reaching record high By Nupur Gambhir How much term life insurance costs By Huma Naeem The 10 largest life insurance companies By Chris Kissell How to get life insurance if you’re uninsurable By Penny Gusner What to avoid before the life insurance medical exam By Desiree Ghazi Life insurance for people with dementia By Satta Sarmah-Hightower ZIP Code Please enter valid ZIP See rates