How to Get Licensed For Life Settlements in New York

How to Get Licensed For Life Settlements in New York

Veris is a partner I am comfortable introducing to my most valued clients.

-Paul Gomperz, President, Volunteer Benefit Systems

With the New York life settlement regulation, all agents looking to work on life settlements in New York State now need to get licensed, whether they are residents of New York or not. In order to do so:

• You have the choice of licensing as an entity or individual.

• You will need to submit New York releases and disclosures to get your license. These forms are to be left blank and need to be enclosed with your application.

• Submit a copy of your New York life agent license

• You will also need to get electronic fingerprints. For a location near you, contact L-1 Enrollment Services at 877-472-6915 or www.L1ID.com. The ORI number needed is NY921270Z

The originals should be sent to the New York State Insurance Department, One Commerce Plaza, Albany, NY 12257.

Please submit a copy of the licensing info above, minus the fingerprints, to Veris Settlement Partners, PO Box 419, Northport, NY 11768.

Don’t hesitate to contact Veris at 631-239-6655 with any questions.

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Veris Settlement Partners, Inc. is a multi-state viatical and life settlement broker. Veris Settlement Partners, Inc., and/or its affiliate firms Chesapeake Financial Settlements, LLC and Select Life Settlements Corporation, and/or one of its two directors as individuals, may be licensed as a life settlement broker or viatical settlement broker, or may be able to broker a life insurance policy owned by a resident of most states. For a list of states and licensing call Veris. Some or all of the proceeds from a life settlement may be taxable under federal or state income tax laws. Advice from a professional tax advisor is recommended. Veris Settlement Partners, inc. is not a viatical or life settlement provider. This Compliance Notice is current as of August 15, 2008 and is subject to change.