Agents & Brokers Overview / Resident License Renewal / Requirements / Life Settlements / Authorizing Act

Authorizing Act

License Information

Life settlement statutes are contained in Sections 10113.1 through 10113.3 of the California Insurance Code (CIC). In addition, the California Department of Insurance (CDI) implemented regulations to further define the life settlement licensing process.

Specifically, individuals and business entities that are licensed as a life agent for at least one year are required to notify CDI within ten days from the first day of operating as a life settlement broker.

Also, individuals and business entities that do not hold a life agent license or life agents who have been licensed for less than one year who intend to operate as a life settlement broker must first obtain a Life Settlement Broker license.

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