The Viatical Settlements Model Act intended to end STOLI transactions and strengthen consumer protections in the life settlement area, while not infringing on legitimate estate planning transactions. The NAIC Model limits the most obvious form of STOLI—the sale of life insurance policies originated or manufactured solely for the purpose of third party investment and requires life settlement brokers to disclose to policy owners information regarding settlement transactions, such as broker commissions and any competing offers to purchase. The Model also recognizes a policyholder's right to sell or assign a policy but initially placed a two-year waiting period on any such sale; it was later amended to a five-year waiting period. and Viatical Settlements Model Act Legislative History (NAIC Model Regulation Service – April 2008).