State RegulationsOH specificDifficulty 1/5
In reviewing a viatical transaction, an examiner must identify which party is the "provider." Under ORC 3916.01(P), the provider is the party that:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
ORC 3916.01(P) defines the viatical settlement provider as the party that purchases and takes ownership of the policies being settled — it steps into the owner's position, pays future premiums, and looks to the death benefit.
Why the other options are wrong
- A) Representing the owner for a fee describes a viatical settlement broker, not the provider.
- B) The issuing insurer wrote the policy but is not the provider in the settlement.
- C) Regulation of viatical settlements belongs to the superintendent, not to any private party defined as provider.
Memory hook
Provider = buyer-owner: purchases, owns, pays premiums, collects the benefit.