Final answer:
The owner of a life settlement contract is the person who is selling the contract, usually the original owner of the life insurance policy, who gets a lump sum payment in exchange for the policy.
Step-by-step explanation:
The owner of a life settlement contract is defined as (b) a person who is selling the contract. A life settlement involves the sale of a life insurance policy to a third party for a value that is greater than the cash surrender value but less than the death benefit. The original owner of the policy, who is typically the insured, sells the policy in exchange for a lump sum cash payment. The buyer of this contract then becomes responsible for paying future premiums and will receive the death benefit upon the death of the insured.
The other options provided do not accurately describe the owner of a life settlement contract. The insurance provider is the company that issues the insurance policy; a person licensed under the contract usually refers to licensed professionals involved in the transaction process but not the owners; and a fiduciary for the contract might be responsible for managing the contract on behalf of another party but is not necessarily the owner.