State RegulationsOH specificDifficulty 1/5
Under ORC 3916.01(R), a "viator" is:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
ORC 3916.01(R) defines the viator as the owner of a policy insuring the life of a person with a life-threatening or chronic condition who enters into a viatical settlement with a provider — the seller side of the transaction.
Why the other options are wrong
- A) The party that purchases and owns settled policies is the provider, not the viator.
- C) Soliciting viatical settlement contracts describes broker activity, not the viator.
- D) The issuing insurer is not a party to the definition; the viator is the policy's owner.
Memory hook
Viator = the ailing owner on the selling side of the settlement.