Terminally ill insureds
A person meets the requirements of this clause with respect to an insured who is a terminally ill individual if such person—
(I)#
meets the requirements of sections 8 and 9 of the Viatical Settlements Model Act of the National Association of Insurance Commissioners, and
(II)#
meets the requirements of the Model Regulations of the National Association of Insurance Commissioners (relating to standards for evaluation of reasonable payments) in determining amounts paid by such person in connection with such purchases or assignments.