State RegulationsNY specificDifficulty 2/5
New York's life settlement privacy protections cover information concerning:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under N.Y. Ins. Law §7810, the confidentiality protections reach personal, financial, and health information concerning both the owner and the insured — who are frequently different people in a life settlement. Restricting the duty to one party's banking data or one party's medical records would leave the other participant exposed; the statute shields the full range of transaction information for both. This matters because the insured's health details and the owner's finances are both central to pricing the deal.
Why the other options are wrong
- A) The protection is not confined to the owner's banking details — health and personal information is covered as well, and the insured is protected too.
- C) Medical records are covered, but so is the owner's personal and financial information; the scope is not medical-only.
- D) Post-closing preferences are not the focus — information gathered in the life settlement transaction is what the statute shields.
Memory hook
Two people, one shield: §7810 covers both owner and insured.