Qualification
Do I Qualify to Sell My Life Insurance Policy?
Most seniors who own a life insurance policy qualify for a life settlement. Here's the simple checklist — and if you're unsure, just ask us. We'll tell you honestly.
The Typical Qualification Checklist
Age 65 or Older
The insured person (the person covered by the policy) is typically 65 or older. Buyers price life settlements based on life expectancy — the older the insured, the higher the offer is likely to be.
Policy Face Value of $100,000+
Most buyers look for a death benefit of at least $100,000. Policies with $250,000+ in face value attract the most competitive bidding and typically result in higher payouts.
Universal Life, Convertible Term, or Whole Life
Universal life and convertible term policies are most commonly sold in the secondary market. Whole life policies may also qualify. Standard term policies without a conversion feature usually do not qualify.
Any Change in Health
A health change since the policy was issued — even a manageable condition like diabetes or heart disease — can significantly increase your policy's market value.
Policy No Longer Needed
Children are grown. The mortgage is paid off. Your spouse has passed. There are many reasons a policy you once needed no longer serves its original purpose.
Premiums Have Become Unaffordable
If you're struggling to keep up with premium payments, you have more options than you think. Selling is often far better than lapsing and receiving nothing.
Not Sure If You Qualify?
Many people are surprised to discover they qualify. Even if you're not certain your policy meets every item on this list, it costs nothing to find out. We'll give you an honest answer with no pressure.
Which Policy Types Qualify?
Most permanent life insurance policies can be sold. Here's a quick overview:
Universal Life
The most common type sold in the secondary market. Flexible premiums and adjustable death benefits make these attractive to buyers.
Convertible Term
Term policies with a conversion option to permanent coverage are strong candidates for a life settlement. Often more attractive to buyers than whole life.
Whole Life
Permanent coverage with a guaranteed death benefit. May qualify depending on face value, premium levels, and the insured's age and health.
Standard Term
Standard term policies without a conversion feature usually do not qualify for a traditional life settlement.
Don't see your policy type listed, or not sure what type you have? Contact us — we're happy to help you figure it out at no charge.