Insurance License Hub

The Massachusetts Life Settlement Provider license

Life Settlement Provider

Buys the policy the broker is selling, and is licensed on the company side rather than the producer side. Its fee and its term are set by pointing at a foreign stock life insurance company's, which is how Massachusetts prices a licensee it treats as a carrier.

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 Apply to the Division's company licensing section

    No state exam for this license

    A detailed plan of operation

    • A detailed plan of operation, which subsection (e)(1) asks of a provider and of nobody else licensed under the section.

    and competence, and a business reputation

    • Competent, trustworthy, intending to transact business in good faith, of good business reputation, and holding the experience, training and education to be qualified in the business applied for. No number is put on any of it.

    and the antifraud plan

    • Fraud investigators, who may be employees or independent contractors, and an antifraud plan approved by the Commissioner covering detection and investigation, resolving inconsistencies between medical records and insurance applications, reporting, staff training and the organizational chart of the antifraud personnel. The plan is privileged and confidential and is not a public record.

    and where the entity is organized

    • A legal entity applicant is formed under the laws of the commonwealth, or is a foreign entity authorized to transact business here and providing a certificate of good standing from its state of domicile. A nonresident also files a written designation of an agent for service of process or an irrevocable consent to service on the Commissioner.

    G.L. c. 175, section 213(a) requires the license before any business, and section 213(b) prices it in a way nothing else on this site is priced: "the term and fees for a life settlement provider license shall be equal to that of a foreign stock life insurance company and the term and fees of a life settlement broker license shall be equal to that of an insurance producer license". So the two licenses one section grants are priced off two different schedules, and only the broker's appears on the Division's producer fee chart. Failure to pay by the renewal date expires the license outright. Section 213(g) lets a license issued to a legal entity authorize its members, officers and designated employees where they are identified in the application or a supplement, and sections 213(i) and (j) forbid each licensee to use the other's functions without the other's license. Anybody holding a Massachusetts viatical settlement provider license when the Act came in is deemed qualified here. The provider files an annual statement of financial condition by 1 March, and the Commissioner may examine its business and affairs whenever the public interest requires it. Payment goes through OPTins or by check to the Division.

    Read at malegislature.gov on 2026-08-19

No national seller sells a course for this license, and nothing could. This is a company license granted on a plan of operation, an antifraud plan and a certificate of good standing, with no examination and no course anywhere in section 213.