A life settlement broker is a person who negotiates life settlement contracts between an owner and providers. A life settlement broker represents only the owner and owes a fiduciary duty to the owner to act according to the owner's instructions, and in the best interest of the owner. See RCW 48.102.006 (leg.wa.gov).
You can also review the fees for your license category.
Understanding how to meet the one-year requirement:
- If you have held an active producer license with a life line of authority (LOA) for at least one year in your home state you may continue applying online for a life settlement broker license.
- If you haven't held a producer license with a life LOA for at least one year, you cannot apply for this license.
After meeting the one-year life line authority license requirement, apply for your license online (nipr.com).