The Pine Lake Life Settlement Protection Index ranks states by the strength of the consumer-protection rules built into their life settlement statutes. We score each state on the length of the mandatory rescission (“free-look”) window, licensing rigor, disclosure requirements, and statutory protections like proceed-escrow and notice rules. The longer the rescission, the more disclosure, and the more layers of verification — the higher the score.

Version 2, May 2026. All 50 state guides are now live; Index covers every state where Pine Lake has published a guide.

Tier 1 — Strongest protections (dual rescission windows)

States that give sellers two parallel windows to rescind (typically 30 days from execution OR 15 days from receipt of proceeds, whichever earlier) with active department oversight:

  • New Jersey — 30 / 15-day dual window, NJ DOBI
  • Pennsylvania — 30 days + 15 days, PA Insurance Department
  • Illinois — 30 / 15-day dual window, IDOI
  • Wisconsin — 30 / 15-day dual window, OCI + required plain-language consumer guide
  • California — 30 / 15-day dual window, CDI

Tier 2 — Strong protections (15-day window from receipt of proceeds)

  • Florida — 15 days from receipt, FL OIR with escrow requirement
  • New York — through 15 days from receipt, DFS oversight (one of the strictest reviewers nationally)
  • Virginia — 15 days from receipt, Bureau of Insurance
  • Massachusetts — 15 days from execution with strong notice safeguards

Tier 3 — Solid protections (15-day window from execution)

States that have adopted the NCOIL or NAIC model framework with a defined rescission window running from contract execution:

Tier 4 — Shorter-window tier

  • North Carolina — 10 business days from receipt (shortest in our set)

Tier 5 — Verify with state regulator

States where specific statutory rescission text was not surfaced by our research as definitively as Tier 1-4 states. The state insurance department still applies broader insurance law; verify current text directly:

Methodology

We score each state on four equal-weighted factors: (1) length of the rescission window, (2) whether the window runs from execution, from receipt of proceeds, or both, (3) licensing rigor (producer-license-plus-broker registration vs. dedicated settlement-broker exam), and (4) ancillary statutory protections like proceed-escrow, notice safeguards, and required consumer guides. Source documents are linked on each state’s individual guide. Information is current as of May 2026; state law changes, and we update this index annually (next refresh: January 2027).

Use the Index alongside the tools

The Index is a high-level comparison. For the specific text of any state’s law, see that state’s in-depth guide via the state-by-state hub. For a side-by-side of any two states, use the comparison tool. For pre-consultation prep, generate a state-specific worksheet via the Policy Review Worksheet.

Educational use only. Pine Lake Life Solutions does not purchase life insurance policies and does not provide legal, tax, or investment advice.

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