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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 365. Insurance Department |
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Chapter 25. Other Licensees |
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Subchapter 11. Viatical Settlements Regulation |
SECTION 365:25-11-2.1. Definitions
Latest version.
- The following words and terms, when used in this subchapter, shall have the following meaning, unless the context clearly indicates otherwise:"Act" means the Viatical Settlements Act of 2008."Insured" means the person covered under the policy being considered for viatication."Life expectancy" means the mean of the number of months the individual insured under the life insurance policy to be viaticated can be expected to live as determined by the viatical settlement provider considering medical records and appropriate experiential data."Net death benefit" means the amount of the life insurance policy or certificate to be viaticated less any outstanding debts or liens."Patient identifying information" means an insured's address, telephone number, facsimile number, electronic mail address, photograph or likeness, employer, employment status, social security number, or any other information that is likely to lead to the identification of the insured.