Can You Sell Your Life Insurance Policy at Life

Can You Sell Your Life Insurance Policy. (an exception is if the person covered is suffering from a terminal disease and has only a limited time. Life insurance is an asset that can be sold just like your home or automobile.

You can sell a term life insurance policy for cash, but your policy will usually have much more value on the market if it is the type that can be converted to a whole or universal life policy. Yes, you can sell your life insurance policy by obtaining a life settlement. Can you sell your life insurance policy?

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According to the life insurance settlement association (lisa), your life insurance policy represents an important asset, much like your home or other investments. Yes, you can sell a term life insurance policy for cash as long as the policy is convertible into permanent life insurance. Selling a life insurance policy is called a life settlement, sometimes known as a viatical settlement. For example, some companies might only purchase policies with benefits of $150,000 or more.