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The North Dakota Life Settlement Provider license

Life Settlement Provider

Buys life insurance policies from their owners in North Dakota. The application runs to sixteen headings: five years of balance sheets, five years of income and expense statements, three independent audits, every life settlement contract to be used in the state, and a plan of operation describing how the settlement to the viator is worked out.

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 for the license

    No state exam for this license

    Plan of operation

    • A detailed plan of operation covering marketing plans and techniques and a description of the procedures used to determine the settlement to the viator, including each criterion used.

    and financial responsibility

    • A surety bond issued by an insurer authorized to write surety in North Dakota, or a deposit of cash, certificates of deposit or securities, of $150,000, specifically authorizing recovery by the commissioner on behalf of any North Dakotan damaged by the provider.

    and financial history

    • Balance sheets and income and expense statements for each of the last five fiscal years, and the three most recent independent audit reports. A new company may substitute projected financial information, including the number of policies viaticated or expected to be viaticated.

    and anti-fraud plan

    • An anti-fraud plan meeting N.D.C.C. 26.1-33.4-13(7)(a)(2).

    N.D.C.C. 26.1-33.4-02(1) and (11). The provider's term of license is that of a domestic stock life insurance company under 26.1-33.4-02(8), where the broker's is that of a producer, which is the clearest signal in the chapter that these are two different licenses rather than two grades of one. Registration with the Secretary of State comes first. There is no examination and no course. 26.1-33.4-05 then adds a duty nothing else in this state carries in the same shape: an annual statement before 1 March naming every insurer whose policies were settled and every broker who settled them, with a $100 filing fee, limited to transactions where the insured is a North Dakota resident and stripped of anything that could identify an owner or insured.

    Read at the Department on 2026-08-20

There is no examination and no course; what stands in front of this license is five years of accounts and a plan of operation. No national seller prices a North Dakota product for it.