Can I Sell My Life Insurance Policy?

If you’ve been paying premiums on a life insurance policy you no longer need—or can no longer afford—you’re not alone. Every year, thousands of Americans ask the same question: Can I sell my life insurance policy? And more importantly, how do I sell my insurance policy for real cash value?

The good news is that selling your policy is absolutely possible through a financial option called a life settlement. And at Summit Life Settlements, we’ve helped countless policyholders just like you turn their life insurance into meaningful payouts—with no hidden fees and full transparency from start to finish.

Here’s everything you need to know about how to sell your life insurance policy, who qualifies, what it’s worth, and how to get started today.

What Does It Mean to Sell My Life Insurance Policy?

Selling a life insurance policy is the process of transferring ownership of your existing policy to an institutional buyer in exchange for a lump sum cash payment. This is known as a life settlement.

The buyer becomes the new owner, pays future premiums, and eventually receives the death benefit. You, the original policyholder, receive immediate cash—often far more than the surrender value—with zero further obligations.

If you’ve been wondering “Can you sell a life insurance policy?” or “How do you sell life insurance?”, this is how: through a safe, regulated, and financially sound life settlement process.

Why Do People Sell Their Life Insurance Policies?

There are several common reasons people look to sell their policies:

• No longer need the coverage (children grown, mortgage paid off, etc.)
• Premiums are unaffordable
• Declining health makes it hard to sustain long-term financial plans
• Need immediate cash for medical care, debt reduction, or retirement
• Want to maximize the value of a policy rather than let it lapse

In most of these cases, letting the policy lapse or surrendering it back to the insurer results in little or no money back. A life settlement provides real cash—sometimes tens of thousands of dollars—that you can use for any purpose.

Can I Sell My Life Insurance Policy?

Yes, and you may qualify if:

• You’re 65 or older (or younger with serious health conditions)
• The policy has a face value of $100,000 or more
• You hold a universal, whole, or convertible term policy
• You’ve experienced a change in health or financial circumstances
• You no longer need or want the coverage

Even if you’re unsure about your eligibility, Summit Life Settlements offers a free, no-obligation policy evaluation. We’ll let you know your options without any pressure or cost.

How Do You Sell Life Insurance?

If you’re asking yourself “How do I sell my life insurance policy?”, here’s the typical process:

1. Submit Your Policy for Review: Start with a simple online form or phone call. We’ll gather basic details about your policy type, age, and health.
2. We Evaluate and Present Offers: We market your policy to a network of trusted buyers who bid on it. This ensures you get the highest possible value.
3. You Choose the Best Offer: Once offers are in, we help you compare them and choose the one that best suits your needs.
4. Secure Your Cash Payout: Once accepted, we guide you through closing and disbursement. You receive a lump sum payout, and the buyer takes over the policy.

How Much Can You Get for Selling a Life Insurance Policy?

Settlement amounts vary widely, but generally fall between 10% and 40% of the death benefit—often much more than the surrender value.

For example:

• $250,000 policy → payout between $25,000 and $100,000
• $500,000 policy → payout between $50,000 and $200,000

What affects the value?

• Your age and health
• Type and size of the policy
• Cost of future premiums
• Market demand from buyers

Summit Life Settlements helps you navigate all of this and works hard to get you the highest offer possible.

Is It Legal to Sell a Life Insurance Policy?

Absolutely. Life settlements are fully legal and regulated in most U.S. states. In fact, the right to sell a life insurance policy was upheld by the U.S. Supreme Court in 1911 in the case of Grigsby v. Russell. You’re simply exercising your right to sell personal property.

At Summit, we only work with licensed providers and institutional buyers, ensuring that your transaction is secure, ethical, and 100% transparent.

Why Work With Summit Life Settlements?

Choosing the right partner is critical when you decide to sell your life insurance policy. Summit stands apart because:

• We prioritize your needs, not commissions
• We work with top-rated, trusted buyers
• We present multiple offers so you get the best deal
• We offer a free, no-pressure consultation
• We manage every step, making the process simple and stress-free

With Summit Life Settlements, you’ll never be left guessing or overwhelmed. You’ll get clear guidance, honest answers, and maximum value.

Final Thoughts

If you’re thinking “I want to sell my life insurance policy,” there’s no better time than now to act. With premiums rising, healthcare needs growing, and life circumstances shifting, your policy could be worth much more than you think.

Summit Life Settlements is here to help you understand your options, navigate the process, and get the payout you deserve.

FAQs About Selling Your Life Insurance Policy