Viatical Settlement Brokers
- A person who negotiates viatical settlements on behalf of a life Insurance policy holder.
- Viatical Settlement Brokers (“VSB”) work with several financial institutions that buy insurance policies, to find the best prices for their clients.
- A VSB offering life settlements must be licensed.
- An Attorney, Accountant, or Financial Planner who is not paid by the provider or settlement purchaser, or who represents the Viator, is not considered a Viatical Settlement Broker.
- Business entity acting as a Viatical Settlement Broker is required to obtain a VSB license.
- The business entity must have at least one individual licensed VSB responsible for the business entity’s compliance with Virginia Insurance laws, rules and regulations.