What action must a viator take regarding the right of rescission if they wish to cancel?

In the context of viatical settlements, the right of rescission allows a viator to cancel the agreement within a specific timeframe. The correct action for a viator wishing to exercise this right is to rescind the agreement within 60 days from the date of signing. This timeframe provides the viator an opportunity to reconsider their decision, which is particularly important in viatical transactions that often involve significant financial and emotional implications.

The option concerning notification to the insurer within a specific period does not align with the specific right of rescission framework, since the rescission period is focused on the decision-making window for the viator rather than a notification requirement. Additionally, cancelling after 90 days or waiting for the insurer to initiate cancellation would not properly utilize the established right of rescission that is designed to protect consumers immediately after the agreement is signed. Therefore, understanding the vital importance of the 60-day rescission period helps clarify why this is the required action for viators seeking to cancel their agreement.