Explore the value
of an existing policy.

What is a life settlement?

A life settlement is the sale of an existing life insurance policy to a third-party purchaser. It is a transfer of the policy, rather than a new loan. The transaction changes ownership and entitlement to the policy’s future death benefit.

It may be relevant when premiums no longer fit your plans or the original purpose of the coverage has changed. Consider the needs of your beneficiaries and alternatives with your insurer and independent advisers before deciding.

Policies that may be considered.

Initial buying guidelines focus on insured people aged 65 or older and policies with a face value of at least $100,000. Universal life, guaranteed universal life, survivorship universal life, variable universal life, convertible term and whole life policies may be reviewed. Actual eligibility depends on the policy, insured, purchaser and jurisdiction.

An illustration-based review route may be available for qualifying guaranteed universal life and well-priced universal life policies. Medical underwriting requirements, documentation and timing vary by route; a no-medical review is not available for every policy. Offers and funding dates must be confirmed in writing.

Your next steps.

1. Send a non-confidential enquiry with your country/state and general policy type. Do not include medical records, identity documents or policy numbers.
2. We confirm whether an appropriate review pathway is available in your jurisdiction.
3. If appropriate, the team requests policy illustrations and other documents through an approved secure channel, with the necessary consent.
4. Review any offer, costs, tax implications, benefit impacts and alternatives before signing a separate agreement.

Submitting an enquiry does not guarantee eligibility, an offer, a price or completion. 37D does not represent this enquiry as an insurance licence or legal/tax advice. Availability is jurisdiction-specific.

Consumer reference: NAIC — Understanding Life Settlements ↗