Life Settlements by State

A life settlement is regulated by the state where the policyowner lives, not by the federal government. That means the rules a policyowner or advisor needs to follow can change from one state to the next. Most states set licensing requirements for brokers and providers, require written disclosures before a contract is signed, and give the policyowner a rescission period to cancel after signing. Many also set waiting periods after a policy is issued and protect the privacy of the insured's medical information.

These state guides name each state's insurance regulator, summarize common consumer protections, and outline the factors buyers commonly consider, such as insured age, health, policy type, and face amount. They are general information, not legal advice, and rules can change. Before a transaction, confirm current requirements with the state insurance regulator, and talk with a qualified advisor about tax and estate planning effects. Accelerated Life Solutions is licensed in Florida and obtains additional state licenses upon request, subject to each state's requirements.

Which states regulate life settlements?

Most states regulate life settlements through their insurance department, often based on model laws from the National Association of Insurance Commissioners or the National Conference of Insurance Legislators. Based on the company's review, Alabama, Wyoming, South Dakota, Michigan, Missouri, South Carolina, and New Mexico do not currently appear to have a comprehensive life settlement broker licensing framework. This is the company's own assessment, not a legal determination. Rules can change, so confirm current requirements with the state insurance regulator before you transact.