Life Settlements Arkansas
In July 2010, Arkansas enacted the Viatical Settlement Model Act # 697, making an Arkansas life settlement a uniformly regulated transaction. The Arkansas Division of Insurance regulates this new industry and is setting standards for all brokers and providers of life settlement policies to meet full potential need of clients, as well as informing them of all their detailed options. Putting this Act into place is a milestone in the life insurance business, providing an unprecedented level of customer satisfaction and assurance.
The Act addresses potential problems including disclosures, audit reports, rescission features, and filing issues. The Act also states that all life settlement providers and brokers doing business in the state are required proper licensing and appointment. The main reason Arkansas life settlements have official regulation is to assist and protect policy holders.
An Arkansas life settlement is a standard life settlement transaction. If you live in Arkansas and you are in need of money to help cover your assisted living bills, medical bills or other significant financial issues, you may be eligible to sell your life insurance policy to help make ends meet. Meeting with a provider and filling out a simple application will ensure your claim to your Arkansas life settlement. Every day, Arkansas residents are trading their unneeded, unaffordable or simply unwanted insurance policies for a lump sum of cash with an Arkansas life settlement agreement.