Iowa § 508E.11 Prohibited practices

Iowa Statutes

§ 508E.11 — Prohibited practices

Iowa § 508E.11

Title XIIICOMMERCE

Ch. 508EVIATICAL SETTLEMENT CONTRACTS

This text of Iowa § 508E.11 (Prohibited practices) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 508E.11 (2026).

Text

1.Except as provided in section 508E.12, it is a violation of this chapter for any person to enter into a viatical settlement contract at any time prior to the application or issuance of a policy which is the subject of a viatical settlement contract or within a five-year period commencing with the date of issuance of the insurance policy or certificate.

2.An insurer shall not, as a condition of responding to a request for verification of coverage or effecting the transfer of a policy pursuant to a viatical settlement contract, require that the viator, insured, viatical settlement provider, or viatical settlement broker sign any form, disclosure, consent, or waiver form that has not been expressly approved by the commissioner for use in connection with viatical settlement contracts in th

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1. Except as provided in section 508E.12, it is a violation of this chapter for any person
to enter into a viatical settlement contract at any time prior to the application or issuance
of a policy which is the subject of a viatical settlement contract or within a five-year period
commencing with the date of issuance of the insurance policy or certificate.
2. An insurer shall not, as a condition of responding to a request for verification of
coverage or effecting the transfer of a policy pursuant to a viatical settlement contract,
require that the viator, insured, viatical settlement provider, or viatical settlement broker
sign any form, disclosure, consent, or waiver form that has not been expressly approved by
the commissioner for use in connection with viatical settlement contracts in this state.
3. Upon receipt of a properly completed request for change of ownership or beneficiary
of a policy, the insurer shall respond in writing within twenty days, with written
acknowledgment confirming that the change has been effected or specifying the reasons
why the requested change cannot be processed. The insurer shall not unreasonably delay
§508E.11, VIATICAL SETTLEMENT CONTRACTS 18
effecting a change of ownership or beneficiary and shall not otherwise seek to interfere with
any viatical settlement contract lawfully entered into in this state.