Instructions For Life Settlement Broker (LSB)

*Home State means the District of Columbia or any state or territory of the United States in which the applicant maintains his, her or its principal place of residence or principal place of business.

Resident - one who has declared New York as the Home State

Non-Resident - one who has declared a state OTHER than New York as the Home State AND who is licensed in good standing for the lines of authority being applied for



Life Settlement Broker




(1) one who has been licensed with a life line of authority for one full year (2) one who has been licensed within the last 90 days and in good standing in the declared home state as a life settlement broker or a life producer (3)  non-resident licensed in the home state with the same lines of authority

Individual/TBA – up to 2 years from date of issue to date of birth expiration

Entity – up to 2 years from date of issue to expiration date of 6/30 in odd years

See Fee Schedule



When supporting documentation is required, documentation must be uploaded with the online application.


FEE - see Fee Schedule. A full fee is charged when a license is issued for a licensing period greater than one year; a half fee is charged when a license is issued for a licensing period of one year or less.  May pay by credit card, electronic funds transfer or paper check.


EXAM  - the Department must have passing exam data for a NYS exam taken within 2 years unless “exempt from # 3” above. Contact PSI* for examination information.  A first-time applicant must submit either (1) a valid school code or a school certificate for a prelicensing course completed prior to sitting for the examination OR (2) in lieu of completing the prelicensing course, documentation of a professional designation OR (3) a Statement of Employer form documenting that the applicant has been regularly employed by a life settlement provider, life insurance company, life settlement broker, or an insurance producer with a life line of authority, for a period or periods aggregating not less than one year during the 3 years preceding the date of application and has been employed in responsible duties relating to the use of life insurance and annuity contracts in the design and administration of plans for estate conservation and distribution, employee benefits and business continuation, and settlement of life insurance and annuity contracts. The Statement of Employer must be signed by an officer of the entity.


FINGERPRINTING - all applicants with an address in New York State MUST be electronically fingerprinted with IdentoGO. Fingerprint cards will NOT be accepted from any applicant with an address in New York State. Applicants with no address in New York State and unable to go to an IdentoGO fingerprinting site must pre-enroll with IdentoGo and submit a fingerprint card and fingerprint fee with the licensing application. Email [email protected] to obtain fingerprint cards. All applicants must submit the pre-enrollment confirmation page with the application. Follow the instructions found in the general Fingerprinting for DFS section.


RELICENSING – the PA relicensing applicant must provide proof of Continuing Education credits, if such proof was required had the last license been renewed, and pay the $10.00 Continuing Education filing fee.


NON-RESIDENT – the applicant must be currently licensed and in compliance in the declared home state. NOTE: license information MUST be included in the National Producer Database. If not, submit a currently dated Certification from the state declared as the home state as defined above.*


NON-RESIDENT RELICENSING – the relicensing applicant must provide proof of meeting the Continuing Education requirement, if applicable, unless providing a home state certification showing that the Continuing Education requirements of that state have been met.


ENTITY APPLICATIONS – the applicant must provide proof of filing of a partnership, corporation, limited liability company, or trade name with the New York Department of State (DOS) or a County Clerk office. It is recommended that applicant obtain name approval for use of the name in the insurance industry from this Department before filing the name with a County Clerk office or DOS. A list of proposed names, listed in the order of preference, may be submitted to DFS by emailing [email protected]. Include “Name Approval Request” in the subject line.