The Minnesota Viatical Settlement Broker license
Viatical Settlement Broker
Acts for the policy owner in negotiating a viatical settlement. A life producer of a year's standing is deemed to meet the licensing requirements and files a notification instead, which is the cheaper of the two ways in.
Course
None
This license has no pre-licensing course route.
Ways in
2
None of them requires a state exam, because this license has none.
Exam
n/a
Not required on any of the routes below.
Every way to qualify
More than one route leads to this license, and which one you take changes what you study and whether you sit the exam. There is no pre-licensing course among them: this license is qualified for by a license already held or experience.
-
Route 1 Hold the life line for a year and notify the commissioner
No state exam for this license
The producer license underneath
-
1 year An insurance producer license currently held with the life line of authority, in good standing for at least one year
and the notification
-
Notice to the commissioner on the prescribed form within 30 days of the first day of operating as a viatical settlement broker, with the fee the commissioner determines and an acknowledgment that the broker will operate in accordance with sections 60A.957 to 60A.9585
Minn. Stat. 60A.9572, subd. 3(a) is the shortcut and it is worded as a deeming rather than an exemption: a producer currently licensed with the life line and in good standing for at least a year "is deemed to meet the licensing requirements of this section and is permitted to operate as a viatical settlement broker". Then subdivision 3(b) asks for the notification within 30 days of starting. Idaho asks for the year and the notification within ten days; Washington asks for the year and a $100 notification within thirty; Hawaii asks for the year, a broker license and a notification, all three. Minnesota asks for the year and the notification and no separate license, which is the lightest of the four. Subdivision 3(d) carves out an attorney, a certified public accountant or an accredited financial planner retained to represent the viator and not paid by the provider, the same carve-out eleven other states here write.
Read at revisor.mn.gov on 2026-08-19
-
-
Route 2 Apply for the broker license on the commissioner's findings
No state exam for this license
Qualification for the business
-
A good business reputation, and experience, training or education qualifying the applicant for the business applied for, with no period and no hour count set on any limb
and financial responsibility
-
A surety bond in favor of the State, or a deposit of cash, certificates of deposit or securities, in an amount the commissioner determines
and an antifraud plan
-
An antifraud plan meeting Minn. Stat. 60A.9583
Minn. Stat. 60A.9572, subd. 8 is six findings and none of them is a course or an examination: a detailed plan of operation for a provider; competence, trustworthiness and an intention to act in good faith; a good business reputation with experience, training or education qualifying the applicant for the business; evidence of financial responsibility for a provider or a broker, by surety bond in favor of the State or by a deposit of cash, certificates of deposit or securities in an amount the commissioner sets; a certificate of good standing for a legal entity; and an antifraud plan meeting 60A.9583 for a provider or a broker. The fee is $750 to issue and $250 every year after, and 60A.964, subd. 2 revokes the license automatically for missing it. This is the route for somebody who is not a life producer of a year's standing. The plan of operation at clause (1) is asked of a provider only, so a broker on this route meets five findings rather than six.
Read at revisor.mn.gov on 2026-08-19
-
No national seller sells a course for this license, and nothing could: both ways in are a license already held or a set of findings about reputation and financial responsibility, and neither carries an examination or a course.