Insurance License Hub

The Georgia Life Settlement Provider license

Life Settlement Provider

Buys a life policy from its owner. Georgia licenses the buyer and registers the broker who arranges it, and this is the buyer: $605 to apply, a $100,000 bond, $300,000 of net worth that has to sit on the balance sheet of the licensed entity itself, and a contract the Commissioner approves before it is used.

Course

None

This license has no pre-licensing course route.

Ways in

1

There is no state exam for this license.

Exam

n/a

Not required on any of the routes below.

Every way to qualify

  1. Route 1 File the plan of operation, the bond, the net worth and the contract

    No state exam for this license

    The bond

    • A $100,000 bond in favor of the Commissioner from a corporate surety authorized in Georgia, with language allowing cancellation only on 30 days' advance notice filed with the Commissioner, and retained for at least a year if the license is ever inactivated.

    and net worth

    • A minimum net worth of $300,000, proved by audited financials or certified statements for the two most recent years. Rule 120-2-93-.04(2)(d) closes the obvious route around it: where the provider is an entity the net worth must be on the balance sheet of the entity holding the license, and "letters of credit, backstop guarantees and special corporate structures will not be taken into consideration". The Commissioner may require more.

    and the contract and the antifraud plan

    • A copy of the life settlement contract and disclosure statement, filed for the Commissioner's review and approval, an antifraud plan, and a statement that the provider's advertisements will not suggest that a policy is bought for the sole purpose of settling it and will not use the words "free" or "no cost" to entice a purchase for subsequent settlement.

    O.C.G.A. 33-59-2 defines the provider as a person other than the owner who enters into or effectuates a life settlement contract with an owner. Rule 120-2-93-.04(1) makes the license compulsory and 120-2-93-.04(3) lets the Commissioner refuse it for want of competence, trustworthiness or financial responsibility, or for a license refused, revoked or suspended anywhere. There is no examination and no course. $600 and a $5 processing fee to apply, $500 and $5 to renew by 1 May with a $15 late fee, and a renewal not completed by 30 June inactivates the license and sends the company back to a fresh application. The annual renewal also files the year's Georgia business: the number, aggregate face amount and proceeds of the policies settled, broken down by policy issue year, the insurers whose policies were settled and the brokers who were paid.

    Read at the Department on 2026-08-20

No national seller sells a course for this license. There is no examination and no course anywhere in the Act or the rule.