Can you Cash in Term Life Insurance?

Published October 10, 2019

Senior couple sitting on couch looking at laptop with a surprised expression

Don’t make the mistake of thinking that your term life insurance policy has no value to you, just because it has no accrued cash value with the insurance company. Exploring all available options is important for those who are looking to maximize the value of their term life insurance policies, especially as the policy nears expiration.

If you no longer need a term life insurance policy — or can no longer afford the premiums — you could consider selling the policy through a life settlement. This is a financial transaction in which a policyowner works with Coventry Direct to qualify a life insurance policy for sale.

For example, we recently received a call from a policyowner with a $1,000,000 term policy. After being diagnosed with a serious illness, she needed help covering her medical expenses. She saw a commercial for Coventry Direct and decided to learn more about life settlements. The policyowner received $81,500 for her policy, which had no cash value. She used the proceeds to take care of her mounting medical bills as well as her daughter’s educational expenses, giving her the peace of mind she needed to enjoy time with her family.

To learn more about life settlements for term life policies, or to qualify now call 1-800-COVENTRY.

Editorial Disclaimer: Coventry Direct, a member of the Coventry group of companies, educates policyowners and insureds interested in learning about life settlements. Resources and publications are researched, written and updated by in-house experts to reflect the most up-to-date industry knowledge.

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Sell your life insurance policy for cash.

See if you qualify now.

We’re here to help. Speak with a Policy Specialist today at 1-800-COVENTRY