| (2) disclose the medical records covered by the release,
the purposes for the release, the identity of the person to whom the
information is to be released, any limitations on the right to withdraw
consent, and that the release form may be used to determine and track
the insured's ongoing health status.
(i) Policy release. A policy release form must:
(1) be in writing and signed by the owner; and
(2) disclose the information covered by the release,
the purposes of the release, the identity of the person to whom the
information is to be released, and the owner's right to withdraw consent.
(j) Power of attorney. A power of attorney form must
be limited to the purpose of releasing medical information in connection
with the settlement transaction, including tracking the ongoing health
status of the insured.
(k) Verification of coverage. A verification request
form must be limited to information relevant to the life settlement
contract, including, if requested:
(1) the policy owner;
(2) the cash surrender value;
(3) the accelerated death benefit at that time; and
(4) the premium and mode of premium payment.
(l) Owner's copies. The life settlement broker or provider
must provide the owner with a copy of the life settlement contract
and all materials used to effectuate the life settlement contract,
including the application, a copy of the escrow or trust agreement,
and any consent forms or any other document that the life settlement
broker or provider required the owner or the owner's representative
to sign to effectuate the life settlement contract. The life settlement
contract and all other materials used to effectuate the life settlement
contract must be provided at no charge to the owner.
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