Insurance License Hub

The Rhode Island Life Settlement Provider license

Life Settlement Provider

Buys life insurance policies from their owners. A perpetual license held by an organization, qualified on a plan of operation and an anti-fraud plan, and the most expensive thing Rhode Island licenses.

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 a plan of operation and an anti-fraud plan and be found qualified

    No state exam for this license

    • A detailed plan of operation, competence and trustworthiness with an intention to transact in good faith, a good business reputation with experience, training or education qualifying the applicant, formation under the laws of this state or authority to transact business here, and an anti-fraud plan covering detection, reporting, staff training and the arrangement of the anti-fraud personnel

    27-72-3(j) sets five findings and the provider carries four of them that the broker does not: the detailed plan of operation, formation under Rhode Island law or authority to transact business here with a certificate of good standing from the state of domicile, and an anti-fraud plan whose four parts the statute writes out, procedures for detecting and investigating possible fraudulent acts and for resolving inconsistencies between medical records and insurance applications, procedures for reporting them to the commissioner, a plan for anti-fraud education and training, and a chart or written description of how the anti-fraud personnel are arranged. No examination and no course anywhere in the chapter. 27-72-3(h) makes the term perpetual, which no other Rhode Island insurance license is, and then takes it away on a filing default: fail to file the annual report or pay the fee by the due date and the license is immediately suspended. The fee is the largest the Department charges, $1,000 to issue and $500 a year to keep, and applications have gone through NIPR since 2020-01-01.

    Read at webserver.rilegislature.gov on 2026-08-18

No national seller sells a course for this license. Nothing could: this license goes to an organization on a plan of operation and an anti-fraud plan, there is no examination and no individual qualification behind it, and no seller anywhere on this site carries a product for a settlement provider.