Entities That May Currently Operate As Life Settlement Providers in New York
On November 19, 2009, Governor David A. Paterson signed into law Chapter 499 of the Laws of 2009, which repealed Article 78 of the Insurance Law, entitled "Viatical Settlements", and added a new Article 78 entitled, "Life Settlements." Chapter 499 became fully effective May 18, 2010.
Entities which were doing business in New York legally before the new law took effect and have met specific requirements under New York's Life Settlement Act may continue to operate as life settlement providers pending the disposition of their license applications.
Only the following entities may currently operate as life settlement providers in New York:
- Abacus Settlements, LLC
- Berkshire Settlements, Inc.
- Coventry First LLC
- Credit Suisse Life Settlements LLC
- EAGiL Life Settlements LLC
- FairMarket Life Settlements Corp.
- GCM Life Settlements LLC
- Georgia Settlement Group (Incorporated in its state of domicile as The Settlement Group, Inc.)
- Habersham Funding, LLC
- Institutional Life Services, LLC
- J. G. Wentworth Life Settlements, LLC
- Legacy Benefits LLC (d/b/a Legacy Benefits NY LLC)
- Life Equity, LLC
- Life Policy Traders, Inc.
- Life Settlements International, LLC
- Life Settlement Solutions, Inc.
- LifeTrust, LLC
- Lotus Life LLC
- Magna Life Settlements, Inc.
- Maple Life Financial Inc.
- Montage Financial Group, Inc.
- Neuma, Inc.
- Parcside Equity LLC
- Proverian Capital LLC
- Q Capital Strategies, LLC
- SLG Life Settlements LLC
- Spiritus Life, Inc.
- ViaSource Funding Group, LLC
- Wm. Page & Associates, Inc.
License Application Pending
- EconoTree Capital INC.
- Financial Life Services, LLC
- Portsmouth Settlement Company 1, LLC
The above information will be revised as necessary to reflect the current license status of the above listed providers. (Last Updated: March 29, 2013)
Last Updated: 04/11/2013