Life Settlement
Why does the life settlement article contain a privacy provision?
Answer and explanation
Answer: B. A life settlement involves assessing life expectancy from medical records, which puts the insured's health and personal information into the hands of brokers, providers, and financing entities, and section 7810 governs its handling. Contracts are not filed publicly and prices are not published.Source: N.Y. Ins. Law § 7802 — 7810, Privacy
More life settlement questions
- What is a financing transaction under New York's life settlement article?
- Where does New York set out prohibited practices in life settlements, apart from the STOLI provision?
- Which arrangement does New York describe as stranger-originated life insurance?
- Which section governs advertising in New York life settlements?
- Whom does New York's life settlement article call the owner?
- Why does New York's definition of a life settlement contract turn on compensation less than the expected death benefit?
621 New York questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.