2000 Minnesota Statutes

     60A.971 Standards for evaluation of reasonable payments. 

    In order to assure that viators receive a reasonable return 
 for viaticating an insurance policy, the following are the 
 minimum permitted discounts: 

                                       Minimum Percentage

                                         of Face Value

 Insured's Life Expectancy          Less Outstanding Loans

                                      Received by Viator

 Less than 6 months                           80%

 At least 6 but less than 12 months           70%

 At least 12 but less than 18 months          65%

 At least 18 but less than 24 months          60%

 Twenty-four months or more                   50%

    The percentage may be reduced by five percent for 
 viaticating a policy written by an insurer rated lower than the 
 highest four categories by A.M. Best, or a comparable rating by 
 another rating agency. 

    HIST: 1995 c 151 s 12