Maine Vertical or Life Settlement Exemption Form 16202(25) is a legal document that is used to exempt a life settlement or vertical settlement from taxation in the state of Maine. This form allows a life settlement or vertical settlement provider to pay a lump sum to a policyholder in exchange for the policyholder’s life insurance policy. The lump sum is typically used for medical expenses, long-term care, or to help support the policyholder’s family. Maine Vertical or Life Settlement Exemption Form 16202(25) is divided into two sections, the Exemption Eligibility Section and the Exemption Certification Section. The Exemption Eligibility Section requires the policyholder to provide information about the policyholder’s age, the face amount of the policy, the date of the policy, and the name of the insurance company. The Exemption Certification Section requires the policyholder to certify that the life settlement or vertical settlement is exempt from taxation in the state of Maine. Maine Vertical or Life Settlement Exemption Form 16202(25) is available in two versions: a standard version and an amended version. The standard version is used when the policyholder is over the age of 65 and the life settlement or vertical settlement is not taxable in the state of Maine. The amended version is used when the policyholder is under the age of 65 and the life settlement or vertical settlement is taxable in the state of Maine.