How do new life settlement guidelines affect me?

How do new life settlement guidelines affect me?

The guidelines for a new life settlement law in Illinois will be posted on the state insurance department website next week, a state official said.

The law, which was passed last year but doesn’t take effect until July 1, allows life insurance policies to be sold after two years and outlaws “stranger-originated” life insurance, according to a report in the Life Settlements Wire. It is based partly on legislation developed by the National Conference of Insurance Legislators and the National Association of Insurance Commissioners.

Read More