Who is eligible to sell their life insurance policy?
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Eligibility to sell a life insurance policy through Settle depends on several factors, including the policyholder’s age, health, policy type, and the structure of the coverage.
What to know
Eligibility to sell a life insurance policy through Settle depends on several factors, including the policyholder’s age, health, policy type, and the structure of the coverage.
In general, most qualifying policyholders are seniors age 65 or older, with the strongest eligibility often beginning around age 70. However, younger individuals with certain health conditions may also qualify because buyers evaluate the expected cost of future premiums and the insured person’s projected life expectancy.
Policies typically need a face value of at least $100,000 to attract interest from buyers, although each case is evaluated individually.
What this means for you
The types of policies most commonly accepted include universal life, whole life, guaranteed universal life, indexed universal life, and convertible term policies. Eligibility also depends on factors such as premium costs, how long the coverage is guaranteed to remain in force, and the overall stability of the policy.
Buyers generally look for policies that are predictable and affordable to maintain over time. Many policyholders assume their policy may not qualify, but eligibility can vary widely depending on the details.
The easiest way to find out if your policy may qualify is to submit a quick estimate through Settle. The review process provides clarity on potential eligibility and value without any obligation to move forward.