2013 Nevada Revised Statutes
Chapter 688C - Viatical Settlements
NRS 688C.260 - Disclosures to viator upon or before execution of settlement.

A provider of viatical settlements shall furnish to the viator, no later than the date the viatical settlement is signed by all parties, at least the following disclosures, in at least 12-point type, conspicuously displayed in the viatical settlement or in a separate document signed by the viator and the provider or broker of viatical settlements:

1. The affiliation, if any, between the provider of viatical settlements and the issuer of the policy to be viaticated.

2. The name, business address and telephone number of the provider of viatical settlements.

3. The name, business address and telephone number of the broker of viatical settlements.

4. The existence of any affiliations or contractual agreements between the provider and purchaser of viatical settlements and:

(a) The identity of that purchaser of viatical settlements; and

(b) If any contractual agreements exist between the provider and purchaser of viatical settlements, the identity of every party to those agreements.

5. The existence of any affiliations or contractual agreements between the broker of viatical settlements and any person making an offer in connection with the proposed viatical settlement and:

(a) The identity of the person making the offer and who has an affiliation or agreement with the broker of viatical settlements; and

(b) If any contractual agreements exist between the broker of viatical settlements and a person making an offer, the identity of every party to those agreements.

6. If the policy to be viaticated was issued as a joint policy, contains family riders or covers a life other than that of the insured under it, any possible loss of coverage on the other lives under the policy, and that the viator should consult the producer of the insurance or the issuer of the policy for advice concerning the settlement.

7. The monetary amount of the current death benefit payable to the provider under the policy and, if known, the availability of any other guaranteed benefit, the monetary amount of any benefit for accidental death or dismemberment, and the extent to which the viator s interest in those benefits will be transferred as a result of the viatical settlement.

8. The name, business address and telephone number of the escrow agent, and the right of the viator or owner to inspect or receive copies of the relevant escrow or trust agreements or related documents.

9. A complete and accurate description of all offers, counteroffers, acceptances and rejections relating to the proposed viatical settlement.

10. The amount and method of calculation of compensation of the broker of viatical settlements, including, without limitation, anything of value paid or given to the broker of viatical settlements for the placement of the policy.

11. A statement indicating the source of any compensation of the broker of viatical settlements from a proposed offer for the viatical settlement, the total amount of the offer for the viatical settlement and the compensation of the broker of viatical settlements expressed as a percentage of the offer for the viatical settlement.

(Added to NRS by 2001, 2172; A 2009, 1797)