Explore Your Options to Turn Term Coverage into Cash

At Summit Life Settlements, we help individuals uncover hidden value in term life insurance policies. While most term policies don’t build cash value, there are options—especially if your policy is convertible.

If you’re wondering:
 ✔ Can you cash out a term life insurance policy before death?
 ✔ Can you cash in a term life insurance policy for money now?
 ✔ Is there any value left in my term policy?

The answer may be yes—if you qualify for a life settlement.

Understanding Term Life Insurance and Cash-Out Options

A traditional term life insurance policy provides a death benefit for a set time, but does not build cash value. However, if your life expectancy is less than the remaining term of coverage, you may be able to:

  • Convert it into a permanent policy
  • Sell it through a life settlement for a lump-sum cash payment.

This process can unlock significant value—especially for seniors or those facing changing health circumstances.

cash value life insurance

Can You Cash In a Term Life Insurance Policy?

Yes, you may be able to cash in a term life insurance policy if it is convertible to permanent insurance. Here’s how:

Life Settlement Calculator - Life Settlement - close up woman using calculator and laptop on paper graph data with doing work at office. SELL YOUR POLICY
  1. Convert the Term Policy – If your term policy includes a conversion clause, you can convert it into permanent coverage without additional medical exams.
  2. Sell the Converted Policy – Once converted, the policy becomes eligible for a life settlement, where licensed buyers pay a lump sum for the future death benefit.

How to Cash Out Term Life Insurance Before Death

At Summit Life Settlements, we simplify the process of cashing out a term life insurance policy before it expires:

  1. Submit Your Policy – Use our secure form to send us your policy details.
  2. Free Policy Review – We evaluate your eligibility based on age, health, and whether your policy is convertible.
  3. Get Offers – We present your case to trusted buyers and gather top offers.
  4. Receive Payment – Accept the offer and get paid—quickly and securely.

“A term policy doesn’t have to expire without value—convert it and cash it out for financial peace of mind.”

We are an independent life settlement brokerage—we don’t buy your policy, we shop it for you to get the highest payout.

business outline icon

No upfront costs

Lower Monthly Expenses

Transparent, secure, and compliant process

Age and Health Parameters

Access to licensed buyers

Two hands holding something black glyph icon. Free space for the premises of the object. Empty space between hands. Maternal care. Silhouette symbol on white space. Vector isolated illustration

Free, no-obligation consultation

“We advocate for your best interest—because your policy should work for you, not just expire.”

Are You Eligible to Cash Out Your Term Policy?

Qualifications for Life Settlement

  • You’re age 65+, or younger with significant health changes
  • Your policy has a face value of $100,000 or more
  • The policy is convertible to permanent insurance
  • You no longer need, want, or can afford the coverage

Start with a Free Term Life Policy Review

Your term life policy might be worth more than you think.
 We’ll help you determine if it can be converted, sold, and cashed out.

No pressure. No upfront fees. Just honest answers.

Free estimate!
Life Settlements: Learn About the Pros and Cons Now: Senior Couple At Home Dancing In Kitchen Together

Ready to Explore the Value of Your Policy?

If you’re wondering:

  • “How can I cash life insurance?”
  • “Is now the right time to cash life insurance policy?”
  • “How do I find the best return?”

Summit Life Settlements is here to guide you every step of the way.
 Contact us today or use our calculator to explore your options.

“Don’t let your policy lapse—explore your cash-out options and reclaim control of your financial future.”

Not directly—but you can if it’s converted to a permanent policy and qualifies for a life settlement.

Yes, if your term policy is convertible, it can be turned into permanent coverage, which may then be sold for cash.

Absolutely, through a life settlement, provided your policy qualifies and has been converted to permanent coverage.

It means the policy can be converted into permanent insurance—without new medical underwriting—making it eligible for sale.

Check your policy documents or contact us for a free review—we’ll verify it for you.

Payouts vary, but seniors with qualifying policies may receive 20–60% of the face value in a life settlement.

The buyer becomes the new owner and beneficiary. They take over premium payments and receive the death benefit later.

Yes, life settlements are legal and regulated in most U.S. states. Summit ensures a secure and compliant process.

There may be tax implications. We recommend consulting a financial advisor, and we can connect you with one if needed.

Yes. Your information is kept strictly confidential and shared only with trusted, licensed buyers.