Second Opinion · Confidential · No Obligation
An offer from one buyer tells you what that buyer is willing to pay. It does not tell you what your policy is worth when several buyers have to compete for it. A licensed life settlement broker takes the same policy to multiple institutional buyers and lets them bid. If you have not signed, comparing first does not change the offer you hold. If you have signed, most states still give you a short window.
Jump to your situation, or read in order.
An offer is one company's answer to one question: what is this policy worth to us? Every buyer answers it differently. Each buyer estimates life expectancy its own way and needs its own rate of return, so the same policy attracts noticeably different offers. That is why a broker shows one policy to many buyers at once. Brokered policies drew an average of 9 competing offers per policy in industry broker data from 2024.
If you answered an advertisement from Coventry Direct or Abacus Life, two of the largest names in the market, the licensed buyer behind that brand purchases policies for itself and does not represent the seller. There is nothing inherently wrong with that. It is simply why the offer in your hand is one company's number, with no second bid beside it.
“Comparison shop. Get quotes from several life settlement providers to make sure you have a competitive offer.”
Providers are the buyers. Getting several of them to bid on the same policy is the job a broker exists to do. Citizens Life Group is a licensed life settlement brokerage that represents you, the seller, and shops your policy competitively to maximize your offer. Your broker is a fiduciary, legally required to act in your interest. The buyer represents itself. Our broker vs. provider guide covers that difference in full.
One more thing an offer cannot tell you on its own: whether it is a fair share of the policy's face value for your age and health. The average life settlement offer guide lays out the typical ranges, and how buyers arrive at a number is a page of its own.
What you can still do depends on what, if anything, you have signed. Find your situation below. Each one ends with a next step.
Situation A
Nothing binds you yet. An offer letter, and even an unsigned purchase agreement, is an invitation. The date on the letter is the buyer's deadline for holding its number, and it has no legal effect on you.
Next step: request a second opinion before you sign, and tell the buyer you are getting a second look before the date on the letter.
Situation B
You very likely still have time. Every regulated state gives you a rescission period after signing, which is the legal name for the time you have to cancel. It is most often 15 days, and in some states the clock does not start until the money arrives. If you signed recently and have not been paid, the window is probably still open.
Next step: call us today, while the window is open. A licensed broker can tell you where you stand.
Situation C
You may still have time. Some states give you 15 days after the money arrives to cancel. Most count from the day you signed, so check the date next to your signature. Our guide to canceling after you sign covers the notice and what you return. Once the window closes, the sale is final and the policy has a new owner.
Next step: inside the window, call (321) 270-0279 today. If it has closed, the tax treatment guide covers the paperwork that still matters.
Rescission rules vary by state, and your contract controls the details. This page is general information, not legal advice. For a question about your contract, talk with an attorney.
Four steps, in order. The first two happen before anything goes to market, and you can stop after either of them.
Call, or use the form on this page to request a second opinion. When we follow up, we will ask about the offer amount and who made it.
A price is only part of an offer. Before anything goes to market, a licensed broker reads the whole offer: the money, how it is structured, who holds it, what can still change it, when it arrives, and who is buying.
A higher number that comes with conditions and no firm funding date is not automatically better than a slightly lower number that is firm, names an independent escrow agent, and states when you are paid.
The brokerage orders and pays for independent life expectancy reports, and multiple institutional buyers price the policy at the same time. The company that made your offer is asked to bid again alongside the others. When paperwork comes in quickly, competing offers sometimes arrive within one to two weeks; several weeks is more typical.
Your existing offer's date is part of the plan from the first call, and Coventry and Abacus are among the buyers this process reaches.
If the offer you already hold is the strongest number the market produces, the review ends there and that offer remains yours to accept. None of these steps commits you to selling through anyone.
You pay nothing out of pocket. The broker commission is paid from the settlement proceeds at closing, and every fee is disclosed in writing before you sign anything. FINRA's consumer guidance suggests asking any broker what bids were received; you will see every one in writing.
Getting started needs very little. Tell us what you know; missing items are not a problem.
Not needed for the review
Medical records. Those are requested later, only with your written authorization, and reading the offer does not require them.
The full document list for a sale, from application to closing, is on the how to sell your policy page.
Citizens Life Group
Prefer to speak with someone?
(321) 270-0279If you would rather talk it through, call (321) 270-0279. We are open seven days a week, and a licensed broker returns messages, typically within one business day.
A deadline on an offer letter is set by the buyer, not by law. It tells you when that buyer may withdraw or re-price its number. It does not shorten any right you have as the policy owner. If you want a second opinion, tell the buyer you are reviewing the offer and ask whether the date can be extended.
Asking a licensed broker to review an offer does not change the offer. What buyers dislike is seeing the same policy arrive from several different people with different information. A single broker running one coordinated bidding process is the normal way policies are sold, and the buyer who made your offer is invited to take part in it.
Yes. Large buyers purchase policies through brokers as well as directly. When your policy goes to competitive bidding, the company that made your offer is invited to bid again alongside the others. The difference is that it now has to compete for the policy instead of being the only number on the table.
You pay nothing out of pocket. The broker commission is paid from the settlement proceeds at closing, and every fee is disclosed in writing before you sign anything. What you compare is the net amount to you under each option. Often that net is higher after competitive bidding, though it is not guaranteed in every case. The broker vs. provider guide walks through the math.
No. The records are yours, and you can sign a new authorization for the broker. The broker gathers the same records and orders independent life expectancy reports, at no cost to you. You do not take a new exam, and your doctor's office is asked only for copies of your records, not for an opinion about your health.
If your offer is already a good one, a second opinion confirms it, and you can accept with a clear picture of the market behind the number. It is a comparison, not a commitment to sell through anyone. If the offer you hold is the strongest the market produces, it remains yours to accept.
Telling us about the offer takes one phone call. Taking the policy to competitive bidding takes longer, sometimes one to two weeks when paperwork arrives quickly and more often several weeks, because independent life expectancy reports are ordered and several buyers price the policy. Your existing offer's deadline is part of that conversation from the start.
A retained death benefit offer pays you less cash up front in exchange for keeping part of the policy's death benefit for your beneficiaries, with the buyer paying all future premiums. It is a legitimate structure. Compare it on two numbers, the cash now and the coverage kept, against a full cash offer for the same policy. The retained death benefit section of the viatical guide explains how it is structured.
More questions? See the full FAQ, or call (321) 270-0279.
You want to keep some coverage. A retained death benefit keeps part of the policy for your family with no more premiums, and a reduced paid-up policy does something similar through your insurance company. Both routes are laid out side by side in the cash-out guide.
The offer is small because the policy is small. Policies under $100,000 in face value rarely attract a buyer, so a modest offer on a modest policy may be the market speaking. The qualification check explains where the lines fall.
You are helping a parent. The policy owner signs, not the family, and a power of attorney does not always reach a policy sale. Who can sign, and when, is in our power of attorney guide.
Reviewed by Jeff Hallman, licensed life settlement broker at Citizens Life Group, in the life settlement market since 1999. In Florida his appointments include viatical settlement broker authority (line 0266), which covers both life settlements and viatical settlements.
Whether your policy is handled by Citizens Life Group or an affiliated brokerage, your broker represents you, the seller, as a fiduciary. Citizens Life Group and its affiliated brokers are licensed in the states where they operate. Contact us to confirm licensing and availability in your state.
This page is educational and is not financial, tax, or legal advice. Rescission rights, timelines, and regulations vary by state and by contract, and nothing here predicts what any buyer will offer. Individual results vary; there is no guarantee that every applicant receives an offer or that a competing bid will exceed an existing one. Proceeds may be taxable in some situations; we recommend consulting a tax professional, and Citizens Life Group does not provide tax advice. Coventry Direct, Coventry First, and Abacus Life are trademarks of their respective owners and are mentioned for identification only; Citizens Life Group is not affiliated with any of them. Last reviewed September 6, 2026.
