2007 Minnesota Statutes
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Chapter 60A
Section 60A.971
Recent History
- 2009 60A.971 Repealed 2009 c 62 s 14
- 1995 60A.971 New 1995 c 151 s 12
This is an historical version of this statute chapter. Also view the most recent published version.
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:
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
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% |
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