The Maine Bureau of Insurance provides on this page all of the information necessary to license a Viatical and Life Settlement Provider. Contact Us if you have questions or are unable to find what you are looking for.
Application Information
- Application for a settlement provider license must be made to the superintendent on the form provided below. The application must be accompanied by a fee of $400. Viatical Application (DOC)
Renewal
A license for settlement provider is continuous as long as the settlement provider remains qualified. The annual fee is $400 for the license which is due May 1st; an additional $100 for the annual statement filing fee is due on or before July 1st. Annual invoices will be emailed to those that have provided an email address; those that have not provided an email address will receive their notice by mail.
Fees
Annual Reporting Requirement
On or before March 1 of each year, in accordance with 24-A M.R.S.A. sect;6806, each settlement provider license in this State shall make a report to the Superintendent. These annual reports must be certified by an officer of the settlement provider. An annual audited financial report is also required to be submitted each year.
Please contact Audrey Wade at (207) 624-8406 or audrey.l.wade@maine.gov with any questions.
Service of Process
Requesting Confidential Treatment of Documents
Statutory Requirements
- Title 24-A MRSA Chapter 85 (Viatical and Life Settlements Act)
- Bulletin 374 Life Insurance Policy Holder Notice (PDF)
- Life Settlement Consumer Guide (PDF) - (for insurers and producers as required by § 6808-A(4))
- Alternative Life Settlement Consumer Guide (PDF) - ((for insurers and producers as required by § 6808-A(4))
- Bulletin 374 Life Insurance Policy Holder Notice (PDF)
The documents on this page are also available in hard copy by contacting the Bureau.