Yes – an Assurity term life policy can be sold in a life settlement, because the policy is your property and the buyer purchases the contract from you rather than from Assurity; the carrier’s permission is not required. The practical catch with term is different from the legal one. A level term policy that simply expires at the end of its term has nothing for a buyer to hold, so in almost every case the policy has to be converted to permanent coverage first, using the conversion privilege already written into your contract.
That makes an Assurity term policy a time-sensitive asset rather than a permanent one. Conversion privileges expire – typically at a stated age or after a set number of policy years – and once the window closes, the term policy usually becomes unsellable no matter how healthy the market is. If you are reading this because premiums have become a burden or the coverage is no longer needed, the date on that conversion rider is the first thing to look up.
This 2026 guide covers who Assurity is, what to verify with the service center, how conversion turns a term policy into something a buyer can price, and when the honest answer is that a settlement is not available. Pine Lake Life Solutions is not affiliated with Assurity Life Insurance Company.
In This Article
- Who Assurity Is – and Who Services Your Policy in 2026
- Term Life Has No Cash Value, So Conversion Is the Doorway
- The Conversion Deadline Is the Real Clock
- What an Assurity Term Policy Might Be Worth After Conversion
- Documents to Gather Before You Ask for an Offer
- The Change-of-Ownership Step Assurity Will Require
- When the Answer Is No – and What to Do Instead
- Frequently Asked Questions
Who Assurity Is – and Who Services Your Policy in 2026
Assurity Life Insurance Company is based in Lincoln, Nebraska. The company as policyholders know it today took shape in 2000, when Security Mutual Life Insurance Company of Nebraska and Lincoln Direct Life combined, with the Assurity name adopted a few years later. Verify the details of that history and your own issuing-company name with Assurity directly – older contracts sometimes still carry a predecessor company’s name on the cover page even though Assurity services them.
Two structural points matter for a term owner. First, Assurity has operated under a mutual holding company structure rather than as a publicly traded stock company, which means there is no demutualization stock hiding in your file the way there is with some large carriers. Second, Assurity has been reported as a certified B Corporation, an uncommon designation among U.S. life insurers – verify its current status if it matters to you. Neither fact changes your right to sell; both help you confirm you are talking to the right company.
Term Life Has No Cash Value, So Conversion Is the Doorway
A term policy is pure protection. There is no account value, no guaranteed cash value, and nothing to surrender – if you stop paying, the coverage simply ends and you walk away with nothing. That is exactly why buyers in the secondary market will not price a plain term policy that cannot be converted: the contract they would be buying has an expiration date attached to it.
The conversion privilege changes that. It lets you exchange the term policy for a permanent policy the carrier offers at the time of conversion – typically without a new medical exam and usually keeping the health class you were originally underwritten at. Once converted, the policy has no expiration date, and a buyer can evaluate it the way they would any permanent policy. In many term settlements, the conversion is arranged as part of the transaction itself so the seller is not left paying permanent premiums out of pocket while waiting.
The Conversion Deadline Is the Real Clock
Conversion privileges are not open-ended. Carriers commonly limit them to a stated attained age, to a set number of policy years, or to the earlier of the two – and the specific rule is written into your contract or its conversion rider, not into general industry practice. Ask Assurity’s policyholder service line for three things in writing: the last date you may convert, which permanent products your policy may be converted into today, and what the premium would be at your current age.
Why the urgency? Because the conversion right is the entire economic value of a term policy in this market. A 74-year-old with two years left on a conversion window and a 76-year-old with none may have identical policies, identical health, and completely different outcomes. If your window is close, get the answer before you do anything else – and be honest with yourself that a settlement is worth exploring only if the numbers still work after conversion premiums.
| Situation | Can It Be Sold? | What Drives the Answer |
|---|---|---|
| Term still inside its conversion window, $100k+ face | Often yes, after conversion | Insured’s age and health, cost of the permanent policy |
| Term with an expired conversion privilege | Usually no | Coverage ends at term expiry; nothing durable to buy |
| Already converted to permanent coverage | Yes, if you and the policy qualify | Priced like any permanent policy |
| Worksite or simplified-issue certificate under $100k | Usually no | Face amount below typical buyer minimums |
| Insured is terminally ill | Possibly, but compare first | An accelerated death benefit rider may pay faster |
What an Assurity Term Policy Might Be Worth After Conversion
Once converted, the policy is priced like any other permanent contract: buyers look at the death benefit, the insured’s age and health, and the projected cost of keeping the policy in force. Across the market, sellers in a life settlement have historically received somewhere in the range of 10% to 35% of the face amount, and the U.S. Government Accountability Office’s study of the market (GAO-10-775) found sellers received roughly four to eight times what they would have gotten from surrendering. Term policies have no surrender value at all, so that multiple comparison does not apply – the honest comparison is a lump sum versus nothing.
One Assurity-specific practicality: a meaningful share of the company’s individual business has historically been simplified-issue and worksite coverage, which tends to be written at smaller face amounts. Secondary-market buyers generally want at least $100,000 of death benefit. If your Assurity term policy is a $50,000 worksite certificate, the realistic answer is that no buyer will bid, and you are better off deciding whether the coverage is worth keeping on its own merits.
Documents to Gather Before You Ask for an Offer
You can move much faster if you collect four things up front. One: the policy cover page, which shows the issuing company, policy number, face amount, issue date, and owner. Two: your most recent premium notice or annual statement. Three: the conversion rider or the contract page describing the conversion privilege. Four – and this one only exists after conversion – an in-force illustration showing what it costs to keep the permanent policy going at current charges.
You do not need all of that to start. Pine Lake’s free policy review begins with the cover page alone; the rest is requested only if the policy looks like something the market can actually price. Nothing you send obligates you to sell.
The Change-of-Ownership Step Assurity Will Require
A life settlement is completed through a change of ownership – often an absolute assignment – plus a beneficiary change, both recorded by the carrier on its own forms. Ask Assurity’s service center which forms it requires, whether a signature guarantee or notarization is needed, and how long it takes to record the change. Carriers set their own administrative rules here, so verify rather than assume.
The carrier’s role is clerical, not discretionary. Assurity records the new owner; it does not approve or reject the sale. Expect the whole transaction, from first review to funded payment, to run roughly 60 to 120 days, with a conversion adding time at the front end. Most states also give the seller a rescission period after closing – a window to change your mind and return the money. Confirm the rule that applies where you live.
When the Answer Is No – and What to Do Instead
Say it plainly: many term policies do not sell. If the conversion window has closed, if the face amount is under about $100,000, or if the insured is in good health and relatively young, buyers will pass. A refusal is not a negotiation tactic – it reflects that the buyer’s return depends on premiums paid over an expected time horizon.
If that is your situation, look at the alternatives honestly. You may be able to reduce the face amount to lower premiums, use a conversion to a small permanent policy you can actually afford, or check whether your contract has an accelerated death benefit rider that pays early in cases of terminal or chronic illness – often faster and simpler than any sale. And if the coverage still protects someone who depends on it, keeping it is frequently the right answer. Talk with a licensed insurance professional and, where money and benefits eligibility intersect, a tax advisor or elder law attorney.
Frequently Asked Questions
Do I need Assurity’s permission to sell my term policy?
No. The policy is your personal property and the buyer purchases the contract from you. Assurity’s role is to record the change of ownership and beneficiary on its own forms once the sale closes. It does not approve or veto the transaction.
Why does my Assurity term policy have to be converted first?
Term insurance has no cash value and expires at the end of the term, so there is nothing durable for a buyer to hold. Converting to a permanent policy removes the expiration date and gives the buyer a contract worth pricing. In many transactions the conversion is arranged as part of the deal itself.
How do I find my conversion deadline?
It is stated in your policy contract or conversion rider, usually as an attained age, a number of policy years, or the earlier of the two. Call Assurity’s policyholder service number on your most recent premium notice and ask for the last conversion date in writing, along with which permanent products are available to you today.
Is Assurity still selling new life insurance in 2026?
Assurity has continued to write individual life and supplemental health products, but verify current product availability and its A.M. Best financial strength rating directly with the company or on its website. Whether a carrier is writing new business does not affect your right to sell an existing policy.
How much could an Assurity term policy be worth?
After conversion, it is priced like any permanent policy. Life settlement proceeds across the market have generally fallen in a range of about 10% to 35% of the death benefit, depending heavily on age, health, and premium cost. Term has no surrender value, so the real comparison is a lump sum versus letting the coverage lapse for nothing.
How long does the process take?
Plan on roughly 60 to 120 days from initial review to funded payment, and add time at the front if a conversion has to be completed first. Medical records and carrier paperwork are usually what set the pace.
Will I owe taxes on the money?
Life settlement proceeds can have more than one tax character, and the treatment depends on your basis, the policy type, and your circumstances. This page is education, not tax advice – review any offer with a CPA or tax attorney before you sign.
Is Pine Lake affiliated with Assurity?
No. Pine Lake Life Solutions is independent and has no affiliation with Assurity Life Insurance Company. We buy unwanted life insurance policies with a death benefit of $100,000 or more and offer a free policy review – send the policy cover page or call (305) 209-7183.
Find out what your policy is worth — free, confidential, no obligation.
A 15-minute educational review covers your eligibility, every alternative, and a realistic view of what each path would net you.
Related Reading
- What Policies Qualify For Life Settlement
- Life Settlement Vs Surrender
- How It Works Policy Options
- What Is A Rescission Period
- Education Center
- Sell My Sagicor Term Policy
Pine Lake Life Solutions does not purchase life insurance policies and does not provide legal, tax, or investment advice. Information provided is for educational purposes only. Eligibility for any option, including life settlements, is not guaranteed and depends on individual circumstances, policy terms, underwriting, and market conditions. Consult independent legal, tax, or financial professionals before making decisions regarding a life insurance policy.