National-LH-II Life Policy Riders, Provisions, Options, Exclusions easy
Under the NAIC Life Settlements Model Act, what must a life settlement provider give the policy owner before or at the time the settlement application is signed? A A written disclosure of available policy alternatives, the potential income and estate tax consequences, and the owner's right to rescind the settlement within a stated window B A binding guaranteed minimum cash offer that is set no lower than the policy's current cash surrender value as that value is most recently reported by the issuing insurance carrier on its books C A current and effective SEC registration statement that fully covers the settled life policy as an investment security being offered for sale to third-party institutional purchasers in the market D A fully completed IRS Form 712 that values the entire policy as of the exact settlement date strictly for the purpose of federal transfer-tax reporting by the parties to the transaction
