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VSMA
(redirected from Viatical Settlements Model Act)

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AcronymDefinition
VSMAVolunteer State Model Aviators (Cedar Hill, TN)
VSMAVolgograd State Medical Academy (Russia)
VSMAVibrating Screen Manufacturers Association (trade group)
VSMAViatical Settlements Model Act (National Association of Insurance Commissioners)
VSMAVictorian Schools' Music Association (now Association of Music Educators)
VSMAValue Stream Mapping and Analysis


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In June 2007, the National Association of Insurance Commissioners adopted several amendments to the Viatical Settlements Model Act, also aimed at STOLI, which it said would both strengthen consumer protections in the life settlement marketplace and impose a five-year ban for settling a life insurance policy.
The Viatical Settlements Model Act [subsections] 5, 10 (1994), available at http://www.
Specifically, with regard to terminally ill insureds, a person meets the requirements if he meets the requirements of the Viatical Settlements Model Act of the National Association of Insurance Commissioners (NAIC), Sections 8 and 9; and meets the NAIC's requirements (relating to standards for evaluation of reasonable payments) in determining amounts paid by such persons in connection with such purchases or assignments.
 
 
 
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