Selling Your Life Insurance Policy in New York Through a Life Settlement
Ready to explore selling your life insurance policy in New York? Trust Life Settlements operates as an independent Flat-Fee life settlement broker, connecting eligible policies with institutional buyers who compete to deliver competitive offers — ensuring New York policyowners retain more of their settlement proceeds.
Can I Sell My Life Insurance Policy in New York?
New York's insurance market is among the most heavily regulated in the country, and its life settlement framework reflects that. The state's high cost of living pushes many retirees to reevaluate policies they purchased during Wall Street careers or through employer-sponsored programs. With over 3.3 million residents 65+, the market is substantial but navigating it requires brokers experienced with DFS compliance.
New York's 60-day rescission period — four times longer than most states — provides exceptional protection but also extends the overall timeline. Buyers factor this window into their offers, and closings typically take 90 to 150 days from initial submission.
New York Life Settlement Regulations
Life settlements in New York are regulated by the New York Department of Financial Services, providing consumer protections at every step.
State Regulated
Yes
Licensing Required
Yes
Disclosure Required
Yes
Rescission Period
60 days
What New York Policyholders Should Know
New York requires licensing under the New York Insurance Law, Article 78.
The NY Department of Financial Services oversees all life settlement transactions.
Sellers must receive disclosure of alternatives including accelerated death benefits.
New York has a 60-day right to rescind — one of the longest in the country.
Average Settlement in New York
23% of face value
Compared to 2–5% cash surrender value from your insurer
How the Process Works in New York
Free Review
Contact us for a no-obligation policy review. We confirm your New York policy meets basic eligibility criteria.
Medical Records
With your authorization, we gather medical records to help buyers evaluate your policy's value.
Competitive Bidding
Your case is submitted to 20+ licensed institutional buyers. All offers are presented to you in writing.
Close & Get Paid
Review, accept, and close. You have a full rescission period under New York law to change your mind.
New York Life Settlement FAQ
Is a life settlement legal in New York?
Yes. New York has regulated life settlements since 2010 under Article 78 of the Insurance Law. Licensing is required for both brokers and providers.
What makes New York different from other states?
New York offers one of the strongest consumer protections with a 60-day rescission period, compared to 15 days in most other states. It also requires disclosure of all alternatives.
Can I sell a group life policy in New York?
Group policies that have been converted to individual policies may qualify. The key requirement is that you are the policy owner and have the right to transfer ownership.
Ready to Explore Your Options in New York?
Get a free, no-obligation policy review from a licensed life settlement broker. We disclose everything in writing before you commit.