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Registration for Life Producer to Operate as a Broker of Viatical Settlements 

A natural person who has been licensed for at least one year and who is in good standing as a resident or nonresident producer of insurance with a life insurance qualification is not required to be licensed as an investment agent or a broker of viatical settlements but must register to operate as such.

Not more than 30 days after first operating as a broker of viatical settlements, the licensed producer must register with the Division using the Registration for Life Producer to Operate as a Broker of Viatical Settlements form and pay the $250 registration fee. The registration form and fee should be mailed to the Nevada Division of Insurance.

Fees are payable by check or money order and should be made out to the Nevada Division of Insurance.

Failure to register and pay the registration fee within the required period of time may result in an administrative fine of up to $500.

Though not licensed as a viatical settlement broker or provider, an insurance producer who acts as a broker of viatical settlements must still comply with the provisions of NRS 688C.220 to 688C.250, inclusive, and 688C.310. All forms must be submitted through SERFF

In addition, the annual reports described in NAC 688C.230 must also be filed with the Division on or before March 1st of each year, if the registered producer acted as a broker of viatical settlements during the prior calendar year. Annual reports must be filed through SERFF and have the correct TOI / Sub-TOI or they will be disapproved. Please contact productcompliance@doi.nv.gov for more information on submitting annual reports.

 

Please note that we will no longer be sending e-mail reminders for the required industry reports as of January 1, 2023.

 

The Annual Report must contain:

  1. A title called “Broker Reporting Form”;
  2. The complete name and license number of the broker of viatical settlements submitting the report;
  3. The calendar year for which the report is submitted;
  4. A list of all providers of viatical settlements with whom the broker arranged a viatical settlement;
  5. A statement certifying that the broker of viatical statements was in compliance with the provisions of NAC 688C.140 during the previous calendar year;
  6. An attestation that the information contained in the report is true and accurate to the best knowledge, information and belief of the broker of viatical settlements submitting the report;
  7. The signature of the broker of viatical settlements submitting the report; and
  8. The date on which the broker of viatical settlements signed the report.