Found this on the State of New York Insurance Department Website, it looks like they are categorizing viaticals and life settlements on a different level. We will see if thier new regulation proposals will have an effect on this.

In order to work as a viatical settlement broker in New York, one must comply with Article 78 of the Insurance Law, which includes a licensing requirement at Insurance Law § 7801(d). See OGC Opinions dated March 17, 2004; November 14, 2001; and April 21, 1999.

Because brokering a sale of individual life insurance contracts by owners to third parties does not meet the statutory definition of viatical settlements, life settlement brokers currently require no license in New York. However, if proposed life settlements legislation is enacted and signed into law, a license would be required.

More info will come, in the mean time keep checking back at:
New York Life Settlement
New Jersey Life Settlement

Get a few requests about what is the Life Settlement Association?

Most requests  I would guess are referring to the leading trade association related to the industry, that would be the LISA Association (Life Insurance Settlement Association).

I have seen smaller (some private) associations formed geared to different types of the business as well as state specific.

However, for LISA membership information, dues, events, and more. Visit our page with their contact information and links.

Life Insurance Settlement Association (LISA) Info

Here are some interesting facts regarding Life Settlements.

• Seniors purchase policies for estate planning purposes, family, and future needs.
• Senior Citizens hold approximately $492 Billion dollars of life insurance coverage.
• A large amount of life insurance coverage will LAPSE.
• The Settlement Market has been helping seniors liquidate their policies since the mid 1990’s, today it IS one of the fastest growing industries in America.

If  you have question or would like additional free information, call the Life Settlement Helpline at 1-888-823-7764.