Regulations of Connecticut State Agencies
(a) Payment of the proceeds of a viatical settlement pursuant to subsection (c) of section 38a-465g of the Connecticut General Statutes shall be made by means of wire transfer to the account of the viator or by certified check or cashier's check.
(b) Payment of the proceeds to the viator pursuant to a viatical settlement shall be made in a lump sum except where the viatical settlement provider has purchased an annuity or similar financial instrument issued by a licensed insurance company or bank, or an affiliate of either. Retention of a portion of the proceeds by the viatical settlement provider or escrow agents is not permissible.
(Adopted effective March 1, 2000)