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| Sec. 11. 24-A MRSA §6808-A is enacted to read: |
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| | | §6808-A.__Contact with insured; additional disclosures |
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| | | 1.__Contact with insured. The insured may be contacted by | | either the settlement provider or its authorized representative | | for the purpose of determining the insured's health status. This | | contact is limited to once every 3 months if the insured has a | | life expectancy of more than one year and no more than once per | | month if the insured has a life expectancy of one year or less. |
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| | | 2.__Additional disclosures. A settlement provider shall | | provide the viator with at least the following disclosures no | | later than the date the settlement contract is signed by all | | parties.__The disclosures must be conspicuously displayed in the | | settlement contract or in a separate document signed by the | | viator and the settlement provider or settlement producer and | | must provide the following information: |
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| | | A.__The affiliation, if any, between the settlement provider | | and the issuer of the insurance policy to be acquired | | pursuant to a settlement contract; |
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| | | B.__The name, address and telephone number of the settlement | | provider; |
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| | | C.__If an insurance policy to be purchased has been issued | | as a joint policy or involves family riders or any coverage | | of a life other than the insured's under the policy to be | | purchased, information regarding the possible loss of | | coverage on the other lives under the policy and advice to | | consult with the viator's insurance producer or the insurer | | issuing the policy for advice on the proposed settlement; |
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| | | D.__The dollar amount of the current death benefit payable | | to the settlement provider under the policy or certificate. | | If known, the settlement provider shall also disclose the | | availability of any additional guaranteed insurance | | benefits, the dollar amount of any accidental death and | | dismemberment benefits under the policy or certificate and | | the settlement provider's interest in those benefits; and |
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| | | E.__The name, business address and telephone number of the | | independent 3rd-party escrow agent and the fact that the | | viator may inspect or receive copies of the relevant escrow | | or trust agreements or documents. |
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