Exam term
Stranger-originated life insurance
A policy bought with the primary purpose of selling it to a third-party investor who has no insurable interest in the insured. States prohibit it, and some treat it as fraud.
Lessons that use this term
- Insurable interest, mortality, and the immediate estate concept California
- Life settlement contracts California
- Life settlements Florida
- Underwriting: insurable interest, medical information, and risk classification New York
- Life settlements New York
- New York life settlement brokers: licensing, advertising, privacy, and prohibited practices (Ins. Law 2137, art. 78) New York
- New York prohibition of stranger-originated life insurance (Ins. Law 7815) New York