2006 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:

	Insured's Life Expectancy		Minimum Percentage of Face Value 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.
History: 1995 c 151 s 12