Life Settlement Broker

Description:

A Life Settlement Broker is authorized to solicit, negotiate, procure, effectuate, monitor or track an agreement under which compensation is provided to an owner of a life insurance policy in return for the assignment, transfer, sale release or bequest of any portion of the death benefit, ownership of the policy or beneficial interest in the policy.

Licensing Requirements:

Applicants seeking to become a licensed life settlement broker in New York State must apply to the NYS Department of Financial Services. Licenses must be renewed annually.

Licenses Issued and Active:

In 2020 there were 161 licenses issued for this occupation.
As of 12/31/20, there were 272 active licenses for this occupation.

Licensing Authority:

NYS Department of Financial Services
Applications and Licensing
One Commerce Plaza
Albany, New York 12257

Standard Occupational Classification:

13-2099 - Financial Specialists, All Other
To learn more about this occupation search the Occupational Information Network (O*Net).

Disclaimer:

Fees stated and other information contained in this report are subject to change. Please contact the licensing authority listed above for the most current information.

This page was last updated on 5/21/21.