New York Life Settlements
New York is a pioneer in life settlement regulation, with one of the strongest consumer protection frameworks in the nation. New York policyowners and their advisors can explore life settlements with a confidential evaluation from Accelerated Life Solutions.
Life Settlement Laws in New York
New York was among the first states to enact life settlement legislation and maintains some of the most stringent consumer protections. The New York Department of Financial Services (DFS) oversees all life settlement activity, with strict licensing, disclosure, and anti-fraud requirements.
Regulator: New York State Department of Financial Services. New York law may include rescission rights and waiting periods; confirm the current rules with the New York insurance regulator.
- Requirements may include disclosures and consumer protections for policyowners.
- Confirm current transaction and eligibility requirements with the New York State Department of Financial Services.
Licensing in New York
New York regulates life settlements and requires brokers to be licensed. Accelerated Life Solutions obtains state licensing upon request, subject to New York's requirements. Contact us to discuss a New York case before you proceed. See our licensing & disclosures page.
Consumer Protections
New York law may include rescission rights and waiting periods; confirm the current rules with the New York insurance regulator. Required disclosures, including broker compensation, are provided before a transaction is finalized.
Commonly Accepted in New York?
These are commonly accepted market criteria, not state requirements. Not every policy qualifies for a life settlement. Eligibility and outcomes depend on policy characteristics, insured health, premiums, underwriting, and market conditions.
How Accelerated Life Solutions Serves New York Advisors and Policyowners
We work with financial advisors, CPAs, estate planning attorneys, insurance agents, trustees, and individual policyowners in New York. Policyowners may contact us directly for a confidential evaluation, and we coordinate with their advisor when they have one.
Our New York Process
- 1Initial policy review and eligibility assessment
- 2Collection of policy and medical documentation
- 3Medical and financial underwriting
- 4Presentation to qualified institutional buyers
- 5Evaluation and negotiation of offers
- 6Completion of transaction documentation
- 7Insurance carrier ownership and beneficiary transfer processing
- 8Closing and distribution of proceeds
Frequently Asked Questions
Is Accelerated Life Solutions licensed in New York?
New York regulates life settlements and requires brokers to be licensed. Accelerated Life Solutions obtains state licensing upon request, subject to New York's requirements. Contact us to discuss a New York case before you proceed.
What are the rescission and waiting period rules in New York?
New York law may include rescission rights and waiting periods; confirm the current rules with the New York insurance regulator. The New York State Department of Financial Services is the state insurance regulator.
How long does a life settlement take in New York?
Qualified submissions may receive a preliminary valuation within approximately 24 hours after sufficient initial information has been received. Overall timeline varies with underwriting complexity, documentation availability, buyer requirements, and carrier processing. Estimated closing and funding timelines are communicated as the transaction progresses. No fixed completion date is guaranteed.
How much is a life insurance policy worth in a New York life settlement?
A life settlement may produce more than the policy's cash surrender value, but results vary by case. A free evaluation shows whether a policy may have secondary-market value. Not every policy qualifies for a life settlement. Eligibility and outcomes depend on policy characteristics, insured health, premiums, underwriting, and market conditions.
How is a life settlement broker paid in New York?
Broker compensation is determined case by case, considering the circumstances and economics of each transaction, and is always disclosed before the transaction is finalized. Compensation is structured to support successful transactions while staying transparent with the appropriate parties. Applicable compensation and transaction costs are disclosed in accordance with governing state laws and transaction documentation.
What makes New York's life settlement laws unique?
These create one of the most protective environments for policyowners in the nation.
Are life settlement proceeds taxable in New York?
Yes. Life settlement proceeds are generally subject to both federal and New York State income tax. The gain is typically calculated as proceeds minus cost basis (premiums paid less any dividends or withdrawals). Consult a tax advisor for details.
Can irrevocable life insurance trusts (ILITs) sell policies in New York?
Yes. Trust-owned policies can be settled in New York, subject to the trust's terms and the trustee's fiduciary obligations. Accelerated Life Solutions has extensive experience with trust-owned and complex ownership cases.
Nearby states
Ready to Explore Life Settlements in New York?
Request a complimentary, no-obligation evaluation for a New York policy. Qualified submissions may receive a preliminary valuation within approximately 24 hours after sufficient initial information has been received.