Insurance License Hub

The Massachusetts Life Settlement Broker license

Life Settlement Broker

Negotiates the sale of somebody's life policy on their behalf, owing them a fiduciary duty while doing it. Massachusetts opens it only to a life producer of a year's standing, and it will not issue the license until the Commissioner has approved an antifraud plan.

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 Hold the life line of authority for a year

    No state exam for this license

    A year on the life line

    • 1 year a Massachusetts insurance producer license carrying the Life line of authority, held for at least one year

    and the antifraud plan, before the license issues

    • Antifraud procedures designed to detect, investigate and prevent fraudulent life settlement acts, submitted to and approved by the Commissioner. The Division will not issue the license until the plan is approved.

    and nothing revoked or suspended

    • No insurance license of the applicant's has ever been revoked or suspended.

    G.L. c. 175, section 213, from chapter 434 of the Acts of 2012, which replaced the viatical settlement scheme and is codified at sections 212 to 223E. Subsection (c) is the whole of the qualification and it is written as a deeming rather than as a route: a life producer licensed as a resident with a life line of authority here or in their home state for at least one year, and licensed here as a nonresident producer, "shall be deemed to meet the licensing requirements of this section and may operate as a life settlement broker", provided that within 30 days of first acting as one they notify the Commissioner on the prescribed form, acknowledge the section, and pay the fee. So the application follows the work rather than preceding it, which Montana and Oklahoma both do for the same license and almost nothing else here does. There is no examination and no course: subsection (e) has the Commissioner "examine each applicant" in the sense of scrutiny, asking for competence, trustworthiness, good faith, a good business reputation and the experience, training and education to be qualified. Pearson's list of every Massachusetts insurance licensing examination carries no life settlement paper. Subsection (d) is the carve-out: a licensed attorney, certified public accountant or nationally accredited financial planner retained in the type of practice customarily performed in their professional capacity, whose compensation is not paid directly or indirectly by the provider or the purchaser, may negotiate a life settlement contract for the owner without this license.

    Read at malegislature.gov on 2026-08-19

No national seller sells a course for this license, and nothing could. The only way in is to have held the Life line of authority for a year, and section 213(c) then deems that to meet the licensing requirements outright. No examination and no course.