6.1. On or
before March 1 of each year, each licensed provider shall make an annual report of
all viatical settlement contract transactions in which the viators were residents at
the time the contract was initiated. Relocation out of state by a viator does not
relieve the licensed provider from reporting transaction activities for such viator.
The report shall contain the following information for the previous calendar year:
6.1.a. For each viatical settlement contract
entered into during the reporting period:
6.1.a.1.
Date of viatical settlement contract;
6.1.a.2. Viator's state of residence at the time
of the contract;
6.1.a.3. Life
expectancy of the insured at the time of contract in months;
6.1.a.4. Face amount of policy
viaticated;
6.1.a.5. Net death benefit
viaticated;
6.1.a.6. Estimated total
premiums to keep policy in force for mean life expectancy;
6.1.a.7. Net amount paid to viator;
6.1.a.8. Source of policy (B-Broker, D-Direct
Purchase);
6.1.a.9. Type of coverage
(I-Individual or G-Group);
6.1.a.10.
Whether or not the viatical settlement contract was entered into during the policy's
contestable or suicide period, or both;
6.1.a.11. Classification of the viator's or
insured's diseases or injuries:
6.1.a.11.A.
Cardiovascular diseases;
6.1.a.11.B.
Diseases of the central nervous system;
6.1.a.11.C. Diseases of the peripheral nervous
system;
6.1.a.11.D. Elders with
nonspecific disease processes;
6.1.a.11.E. Infectious diseases and autoimmune
diseases;
6.1.a.11.F. Liver and renal
diseases;
6.1.a.11.G.
Neoplasms;
6.1.a.11.H. Non-neoplastic
pulmonary diseases;
6.1.a.12.
Type of funding for viatical settlement contracts (P-purchaser, L-licensee,
I-accredited investor, F-financing entity, S-special purpose entity, R-related
provider trust); and
6.1.a.13. Rating of
insurer that issued the policy at the time the policy was
viaticated.
6.1.b. In addition
to the requirements stated in subdivision a of this subsection, when death has
occurred the following information should also be provided:
6.1.b.1. In place of the net death benefit
viaticated provided in paragraph 5, subdivision a of this subsection the net death
benefit collected;
6.1.b.2. In place of
the estimated total premiums to keep the policy in force for the mean life
expectancy provided in paragraph 6, subdivision a of this subsection, the total of
the premiums paid to maintain the policy;
6.1.b.3. Date of death;
6.1.b.4. Difference between the number of months
that passed between the date of contract and the date of death and the mean life
expectancy in months as determined by the reporting company;
6.1.b.5. Type of coverage (I-Individual or
G-Group); and
6.1.b.6. Whether or not
the viatical settlement contract was entered into during the policy's contestable or
suicide period, or both;
6.1.c. Name and address of each viatical
settlement broker through whom the reporting provider purchased a policy from a
viator who resided in this state at the time of contract; and
6.1.d. Number of policies purchased from an
individual or entity other than the original viator as a percentage of total
policies purchased.
