In Oregon, life settlement providers must obtain a $100,000 Oregon life settlement provider bond before engaging in this business.
AmeriPro Surety Bonds provides the life settlement provider bond for both new and renewal license applicants.
Life settlement providers are in the business of facilitating the sale of insurance policies --- while the insured is alive --- to obtain more than the cash value of the policy.
Of course, since the insured is still alive, a life settlement provider will not obtain the amount of the policy that would be paid at the insured’s death.
The purpose of the $100,000 Oregon life settlement provider bond is to protect consumers from any acts of criminal wrongdoing, fraud, or theft on the part of a licensee and any employees.
The bond is required by the Oregon Department of Business and Consumer Services as a precondition to be licensed.
Persons engaged in the business of life settlement providers will need to demonstrate personal financial accountability to become licensed.
The life settlement provider bond premium will be determined by an applicant’s credit score, and, possibly (though not necessarily) financial statements provided by the applicant.
The bond will ideally be a few small percentages of the $100,000 face value.
In cases where an applicant may have credit blemishes, the bond can be much higher.
In all cases, AmeriPro Surety Bonds will work to find you the best surety bond pricing regardless of your credit history.
In cases where premiums are particularly high, AmeriPro Surety Bonds can offer premium financing.
Applicants for the Oregon life settlement provider license must do the following:
In addition to the Oregon life settlement provider bond, AmeriPro Surety Bonds is a surety bonds-only company which provides license and permit, contractor, court, and fiduciary surety bonds throughout Oregon and nationwide
Please call us today for the bond that you need at a reasonable price: