North Carolina Administrative Code
Title 11 - INSURANCE
Chapter 12 - LIFE AND HEALTH DIVISION
Section .1700 - VIATICAL SETTLEMENTS
Section 12 .1710 - DEFINITIONS
Universal Citation: 11 NC Admin Code 12 .1710
Current through Register Vol. 39, No. 6, September 16, 2024
(a) The definitions contained in G.S. 58-58-205 apply to this Section.
(b) The following definitions shall apply to this Section:
(1) "Division" means the Life
and Health Division of the Department of Insurance.
(2) "Insured" means the person covered under
the policy being considered for viatication.
(3) "Life expectancy" means the mean of the
number of months the individual insured under the life insurance policy to be
viaticated can be expected to live as determined by the viatical settlement
provider considering medical records and appropriate experiential
data.
(4) "Net death benefit" means
the amount of the life insurance policy or certificate to be viaticated less
any outstanding debts or liens.
(5)
"Patient identifying information" includes an insured's name, address,
telephone number, facsimile number, electronic mail address, photograph or
likeness, employer, employment status, or social security number.
Authority
G.S.
58-2-40;
58-58-300;
Temporary
Adoption Eff. April 1, 2002;
Eff. April 1, 2003;
Pursuant to
G.S.
150B-21.3A, rule is necessary without
substantive public interest Eff. May 1, 2018.
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