Life Settlements: A Simple Guide to a Little-Known Option

If you’re 65+ and no longer need or can’t afford your life insurance, you may be able to sell your policy for cash instead of letting it lapse or surrendering it for a small amount. Here’s a clear, plain-English guide that could help you uncover value you didn’t know existed.

What Is a Life Settlement?

A life settlement is the legal sale of your life insurance policy to a licensed buyer for a one-time cash payment. The buyer takes over premium payments and later collects the death benefit. For seniors who no longer want or need their policy, it’s a way to turn something that would lapse into real money in your pocket.

Who Typically Qualifies?

• Age: Usually 65+ (younger may qualify with health changes)
• Coverage: $100,000 or more in life insurance
• Policy Type: Universal Life, Whole Life, or Convertible Term
• Health: A change in health can increase policy value

See details on Who Qualifies.

How It Works

1. We review your policy details and estimate its market value.
2. Your case is shopped to licensed buyers for competing offers.
3. You review all offers with guidance — no obligation.
4. When you accept, funds are disbursed securely and premiums stop.

See the full process: How It Works.

Why People Choose a Life Settlement

• Premiums have become too expensive to keep paying
• The policy is no longer needed for family or estate planning
• You’re considering surrendering or letting it lapse
• You’d rather use the money for healthcare or retirement