Nebraska Administrative Code
Topic - INSURANCE, DEPARTMENT OF
Title 210 - NEBRASKA DEPARTMENT OF INSURANCE
Chapter 76 - VIATICAL SETTLEMENTS
Section 210-76-005 - Standards for Evaluation of Reasonable Payments for Terminally or Chronically Ill Insureds
Universal Citation: 210 NE Admin Rules and Regs ch 76 ยง 005
Current through March 20, 2024
In order to assure that viators receive a reasonable return for viaticating an insurance policy, the return for viaticating a policy shall be no less than the following payouts for insureds who are terminally or chronically ill:
|
Insured's Life Expectancy |
Minimum Percentage of Face Value Less Outstanding Loans Received by Viator |
|
Less than 6 months |
[80%] |
|
At least 6 but less than 12 months |
[70%] |
|
At least 12 but less than 18 months |
[65%] |
|
At least 18 but less than 24 months |
[60%] |
|
Twenty-four months or more |
[50%] |
The percentage may be reduced by [5%] for viaticating a policy written by an insurer rated less than the highest [4] categories by A.M. Best, or a comparable rating by another rating agency.
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