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Standards adopted by the Association
Wet Paper
Sale of newly issued
policies
The LISA and its members
have adopted a strong policy position against transactions involving
the sale of newly issued life insurance policies that were purchased
with the sole intent to sell. Without a showing of an unanticipated
change in the health status and/or financial condition of the owner
of the policy, the members of the LISA will not enter into viatical
settlement and/or life settlement transactions within two years of
the issue date of a life insurance policy, or such other period of
time to be determined by law, not to exceed the contestable period.
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