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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

Official Publication of the State of Minnesota
Revisor of Statutes