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How To Sell Your Life Insurance Policy For Cash

Have a life insurance policy you no longer need? Most people don’t realize that selling your life insurance policy is a possibility through what’s called a life settlement. A Life Settlement is defined as “the sale of any existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit.” 

I sat down with the Ardan Group to get a better understanding of how exactly this works.

What Exactly is a Life Settlement:

A Life Settlement is a transaction in which a life insurance policy is sold to a third party and it’s a way of converting your life insurance policy, while you’re still alive, into money you can use now. The sale of your life insurance policy will also relieve you of all future premium expenses.

Here are some frequently asked questions regarding Life Settlements provided by the Ardan Group:

Who is Eligible For a Life Settlement: 

Each case is unique and circumstances vary, but in general people aged 62 and older are eligible. Contact us to speak with a settlement expert who will provide a recommendation specific to your situation.

What Types of Policies Can Be Sold in a Settlement?

Term, Whole Life, Universal Life, Key Person, Joint Life insurance.

What Can I Use the Settlement Funds for?

Paying medical bills, maintaining your independence, augmenting your retirement lifestyle, taking a trip, making a charitable donation…..there are no restrictions as to how you may use the funds.

Does My Insurance Company Have to Agree to a Settlement?

No. The insurance policy is your asset, legally and contractually and you have the legal

right to sell or assign this benefit for exchange of value (Life/Viatical Settlement).

Does My Current Beneficiary Have to Agree to the Settlement?

Your current beneficiary will sign off on your Settlement and having the cash from the transaction might benefit them as well. In some cases, you may be able to leave your beneficiaries a portion of your policy’s benefit too.

How Do I Select a Reputable Settlement Broker to Sell My Policy?

Look for a company that is an innovative leader, is licensed, knowledgeable and experienced. Ardan has been highly regarded in the industry since 1990 and is known for offering innovative Best Value Settlement ℠ .


Are you interested in selling your life insurance policy? The professionals at the Ardan Group will help you and your family obtain the Best Value Settlement℠ and optimize this important financial benefit! Give them a call today to see if you qualify 1-800-699-3522.

Lewis Schenk is an Australia-based Entrepreneur, Writer & PR Consultant. His work has been seen in Entrepreneur Magazine, International Business Times, Addicted2Success & The Good Men Project. Lewis is passionate about sharing empowering stories from people around the world, particularly those in entrepreneurship & business. He has been privileged to work with over 600 businesses and entrepreneurs, helping them amplify their message and build their brand & online presence.

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