Resources
Life Settlement Regulations by State
Whether life and viatical settlements are regulated in each state, the rescission period that applies, and where SGI holds a provider license.
The Settlement Group, Inc. (SGI) is a licensed life settlement provider operating under state insurance laws that govern how life and viatical settlements are conducted. Regulation varies by state: most states license and oversee life settlement providers directly, a few regulate viatical settlements only, and a small number have no statute in place at all. The sections below list, for each state, whether life and viatical settlements are regulated, the applicable rescission period, and SGI's licensing status. SGI holds life and viatical settlement provider licenses in 30 states and serves 37 states plus Washington, D.C. View copies of our licenses on our State Licenses page. Copies of each license are on our State Licenses page.
- Regulated 43 jurisdictions — state licenses and oversees settlement providers
- Viatical only 2 jurisdictions — terminal or chronic illness required
- Not regulated 6 jurisdictions — no settlement statute in place
Regulations are subject to change. Confirm the current requirements for your state with your provider or advisor before entering a transaction.
Jump to a state
State by State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Alabama Not regulated
- Regulation
- No. Neither life nor viatical settlements are regulated in Alabama.
- Rescission period
- Not applicable, no statutory right of rescission specific to life settlements.
Alaska Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days
Settlement Group is a licensed life settlement provider company in Alaska, license # 2238089.
Arizona Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from the date the contract is executed by all parties.
Settlement Group is a licensed life settlement provider company in Arizona, license # 7592. View license (PDF)
Arkansas Regulated
- Regulation
- Yes. Arkansas regulates both, but under two separate statutes (a Viatical Settlements Act and a separate Life Settlements Act) rather than one combined act like most states.
- Rescission period
- 15 days from the date the contract is executed by all parties.
Settlement Group is a licensed life settlement provider company in Arkansas, license # 100105803. View license (PDF)
California Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in California, license # 5710-9.1 View license (PDF)
Colorado Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Colorado, license # 20071075470. View license (PDF)
Connecticut Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from the date the contract is executed by all parties.
Settlement Group is a licensed life settlement provider company in Connecticut, license # 149058334. View license (PDF)
Delaware Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 60 days after execution or 30 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Delaware, license # 3000260351. View license (PDF)
District of Columbia Not regulated
- Regulation
- No. Neither life nor viatical settlements are regulated in the District of Columbia.
- Rescission period
- Not applicable.
Florida Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Florida, license # 25-352255428. View license (PDF)
Georgia Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from the date the contract is executed by all parties.
Settlement Group is a licensed life settlement provider company in Georgia, license # 120394. View license (PDF)
Hawaii Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from the date the contract is executed by all parties (HRS § 431C-33(h)).
Idaho Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 20 days from the date the contract is executed by all parties.
Settlement Group is a licensed life settlement provider company in Idaho, license # 3004142071.
Illinois Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Illinois, license # 100786006. View license (PDF)
Indiana Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The longer of 30 days after execution or 15 days after receipt of proceeds (note: this state uses “longer of,” the reverse of the more common mechanic).
Settlement Group is a licensed life settlement provider company in Indiana, license # 562009. View license (PDF)
Iowa Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Iowa, license # 3000914816. View license (PDF)
Kansas Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Kansas, license # 902339. View license (PDF)
Kentucky Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in Kentucky).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Louisiana Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Louisiana. View license (PDF)
Maine Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Maine, license # VPF393779. View license (PDF)
Maryland Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Maryland, license # 2064058. View license (PDF)
Massachusetts Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Massachusetts, license # 2026-123115. View license (PDF)
Michigan Viatical only
- Regulation
- Viatical settlements only (terminal or chronic illness required); Michigan does not separately regulate general life settlements.
- Rescission period
- 15 days (the lesser of 30 days after signing or 15 days after receipt of proceeds).
Settlement Group transacts only life settlements in Michigan.
Minnesota Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Minnesota, license # VI-40785232. View license (PDF)
Mississippi Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Mississippi, license # 15008021. View license (PDF)
Missouri Not regulated
- Regulation
- No. Neither life nor viatical settlements are regulated in Missouri.
- Rescission period
- Not applicable.
Montana Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in Montana).
- Rescission period
- The longer of 30 days after execution or 15 days after receipt of proceeds.
Nebraska Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in Nebraska).
- Rescission period
- The earlier of 60 days after execution or 30 days after receipt of proceeds.
Nevada Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in Nevada).
- Rescission period
- The earlier of 60 days after execution or 30 days after receipt of proceeds.
New Hampshire Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in New Hampshire).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
New Jersey Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in New Jersey.2 View license (PDF)
New Mexico Viatical only
- Regulation
- Viatical settlements only; New Mexico does not separately regulate general life settlements.
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group transacts only life settlements in New Mexico.
New York Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds (window runs from execution through 15 days after proceeds are received).
Settlement Group is a licensed life settlement provider company in New York, license # LSP-1157140. View license (PDF)
North Carolina Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 10 business days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in North Carolina, license # VP000139.3 View license (PDF)
North Dakota Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in North Dakota).
- Rescission period
- The earlier of 60 days after execution or 30 days after receipt of proceeds.
Ohio Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Ohio, license # 720. View license (PDF)
Oklahoma Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in Oklahoma).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Oregon Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in Oregon).
- Rescission period
- The earlier of 60 days after execution or 30 days after receipt of proceeds.
Pennsylvania Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 30 days minimum (30 days from contract date, extended to at least 15 days from receipt of proceeds if proceeds arrive late).
Settlement Group is a licensed life settlement provider company in Pennsylvania, license # 511426. View license (PDF)
Rhode Island Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from the date the contract is executed by all parties.
Settlement Group is a licensed life settlement provider company in Rhode Island, license # 3000620251. View license (PDF)
South Carolina Not regulated
- Regulation
- No. Neither life nor viatical settlements are regulated in South Carolina.
- Rescission period
- Not applicable.
South Dakota Not regulated
- Regulation
- No. Neither life nor viatical settlements are regulated in South Dakota.
- Rescission period
- Not applicable.
Tennessee Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Tennessee, license # 2002280. View license (PDF)
Texas Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from the date the contract is executed by all parties.
Settlement Group is a licensed life settlement provider company in Texas, license # 2003823. View license (PDF)
Utah Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in Utah).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed settlement provider in Utah, license # 209764. View license (PDF)
Vermont Regulated
- Regulation
- Yes (the statute covers life settlements; Vermont's earlier viatical-specific regulation was repealed by operation of law and folded into the life settlement framework).
- Rescission period
- 30 days from the date the contract is executed by all parties (8 V.S.A. § 3841(6)).
Virginia Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Virginia, license # VP030. View license (PDF)
Washington Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- 15 days from the date the contract is executed by all parties.
Settlement Group is a licensed life settlement provider company in Washington, license # 500570. View license (PDF)
West Virginia Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements in West Virginia).
- Rescission period
- The earlier of 60 days after execution or 30 days after receipt of proceeds.
Wisconsin Regulated
- Regulation
- Yes (the statute covers both life and viatical settlements).
- Rescission period
- The earlier of 30 days after execution or 15 days after receipt of proceeds.
Settlement Group is a licensed life settlement provider company in Wisconsin, license # 512084027. View license (PDF)
Wyoming Not regulated
- Regulation
- No. Neither life nor viatical settlements are regulated in Wyoming.
- Rescission period
- Not applicable.