Virginia Life Settlements
Virginia has a mature and well-regulated life settlement market supported by robust consumer protections and a large senior population. Accelerated Life Solutions is fully licensed in Virginia, helping financial professionals secure top value for their clients' policies.
Life Settlement Laws in Virginia
Virginia regulates life settlements under the Virginia Viatical Settlements Act (Title 38.2, Chapter 60). The State Corporation Commission's Bureau of Insurance provides thorough oversight, licensing all providers and brokers operating in the Commonwealth.
- Licensed and regulated by the Virginia Bureau of Insurance
- 30-day rescission period for policyholders age 60 and older
- Two-year waiting period from original policy issuance
- Mandatory written disclosure of all offers and alternatives
- Anti-fraud enforcement with criminal and civil penalties
- Confidentiality protections for all policyholder personal and medical data
Regulatory Framework
Virginia requires all life settlement brokers and providers to be licensed by the state’s Department of Insurance. Accelerated Life Solutions is fully licensed and compliant in Virginia.
Consumer Protections
Virginia law mandates full disclosure, rescission periods, and privacy protections for all life settlement transactions — ensuring your clients are fully informed.
Commonly Accepted in Virginia?
Virginia's large federal workforce and military retiree population creates a significant pool of eligible policyholders with substantial coverage amounts.
How Accelerated Life Solutions Serves Virginia Advisors
We partner exclusively with financial professionals in Virginia — financial advisors, CPAs, estate attorneys, and insurance agents — to deliver fully compliant, transparent, and competitive life settlement outcomes.
Our Virginia Process
- 1Confidential policy review and preliminary valuation
- 2Full underwriting and documentation coordination
- 3Competitive bidding among institutional buyers
- 4Transparent offer presentation with full disclosures
- 5Compliant closing with legal coordination
Frequently Asked Questions
Are life settlements regulated in Virginia?
Yes. Virginia has comprehensive life settlement regulations under the Viatical Settlements Act (Title 38.2, Chapter 60). All providers and brokers must be licensed by the Virginia Bureau of Insurance.
What is Virginia's rescission period?
Virginia provides a 30-day rescission period for policyholders age 60 and older. During this time, you can cancel the settlement contract and have your policy returned without penalty.
Do federal retirees in Virginia qualify for life settlements?
Yes. Federal Employees' Group Life Insurance (FEGLI) policies that have been converted to individual policies, as well as supplemental private life insurance held by federal retirees, may qualify for a life settlement.
How are life settlement proceeds taxed in Virginia?
Proceeds are subject to federal income tax and Virginia state income tax (which ranges from 2% to 5.75%). Tax treatment depends on premiums paid and policy cost basis. Consult your tax advisor.
How long does a Virginia life settlement typically take?
Most Virginia cases close within 60–90 days. Cases involving FEGLI conversions, trusts, or multiple beneficiaries may require additional time for documentation and verification.
Ready to Explore Life Settlements in Virginia?
Contact us for a complimentary, no-obligation policy appraisal for your Virginia clients. We typically respond within 24 hours.