Like many Americans, you purchased life insurance to protect your family or business. As circumstances change, however, so does your need for coverage, and considering a company to buy back your policy might be a great option. You may want to consider selling your life insurance policy if:
Consider a life settlement if your policy is no longer affordable due to increased premium payments.
Avoid a lapse and make the most of your life insurance before your term policy expires.
Use a life settlement to help cover your immediate needs and alleviate the stress of medical expenses.
Achieve peace of mind by selling your policy to boost your savings and supplement your income.
Retain a portion of your coverage and eliminate future premium payments with a Retained Death Benefit.
Looking for a company to buy your life insurance policy? We help determine if selling your policy is right for you.
Coventry Direct is one of the most trusted companies that purchase life insurance policies, helping thousands of people turn unwanted coverage into meaningful cash. Through a life settlement, you can sell your policy to a licensed buyer for more than its surrender value, keeping the cash while eliminating future premium payments.
As a leader among companies that buy back existing life insurance policies, Coventry Direct makes the process transparent, fast, and secure. Our team will review your policy details, explain your options, and show you exactly how much your coverage could be worth.
If your policy no longer fits your needs – or you’re simply looking for the best company to buy back a life insurance policy – start with Coventry Direct. Get a free, no-obligation policy estimate today and discover how much cash your life insurance could bring you.
Life insurance is an asset that can be sold just like your home or automobile. When you sell your life insurance policy––a process known as a life settlement––you receive a lump-sum cash payment or a combination of cash and coverage with no future premium obligations. The purchaser takes over future premium obligations and receives the death benefit when the insured passes away.
A life settlement is a more lucrative option than lapsing or surrendering a life insurance policy and provides, on average, four times more than the cash surrender value.
Check out our customer reviews to learn more about the benefits of working with Coventry Direct.
Yes. If you own a qualifying life insurance policy, you may be able to sell it through a life settlement for a lump-sum cash payment. The buyer takes over premium payments and becomes the policy’s new owner and beneficiary. Coventry Direct can review your policy to see if you qualify and how much your policy might be worth.
Eligibility typically depends on your age, health, and policy value. Most policyholders age 65 or older qualify, and younger individuals may be eligible if they’ve experienced a decline in health. Policies with a face value of $100,000 or more—including term, whole, and universal life—are often eligible.
The amount depends on several factors, including your age, health, policy type, and death benefit. On average, a life settlement pays several times more than a policy’s cash surrender value. Coventry Direct can provide a free, no-obligation estimate to help you understand your policy’s potential value.
Most policy types qualify, including universal life, whole life, variable life, survivorship, group life, and even some term life policies. Term policies can often be converted into permanent coverage before being sold.
Yes. Life settlements are regulated transactions handled by licensed providers in most states. Coventry Direct has been a trusted leader in life settlements for more than 35 years, ensuring each sale is handled with transparency, compliance, and care.
A life settlement is typically for seniors or those with changing financial needs, while a viatical settlement is for individuals with a terminal illness. Both provide a cash payout in exchange for transferring ownership of the policy, and Coventry Direct offers both options depending on your situation.
After the sale, you receive your lump-sum payment, and the buyer takes over all future premium obligations. You no longer pay for the policy or have any financial responsibility. The buyer becomes the new beneficiary and receives the death benefit when the insured passes away.
Canceling or surrendering a policy typically results in little to no payout, while a life settlement allows you to access substantially more of your policy’s value. If you no longer need coverage, selling is often the most financially beneficial option.
Inside, you’ll find more information about us and the process of selling your policy.
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We’re here to help. Speak with a Policy Specialist today at 1-800-COVENTRY