July 31, 2026
1:06 pm

Can I Sell My Assurity Term Life Policy? (2026 Guide)

Term life is the one policy type where the calendar, not the market, drives the decision. A term policy has no cash value to surrender and no account value to draw on. Its only asset is the death benefit, and that death benefit disappears at the end of the level period unless something is done first. For most owners, the thing that has to be done first is a conversion.

This page covers how an Assurity Life Insurance Company term policy fits into that picture: who to call, why the conversion privilege is the gate, how to find your own deadline, and what happens if the window has already closed. Pine Lake Life Solutions is an independent education and consumer-advocacy resource. It is not affiliated with, endorsed by, or acting for Assurity Life Insurance Company, and it does not purchase policies.

In This Article

Why term policies are rarely sold as-is
Who to contact about an Assurity term policy
Finding your conversion deadline
What an Assurity term policy can convert into
If the conversion window has already closed
The paperwork that completes a transfer
How financially strong is Assurity?
Frequently Asked Questions

Can I Sell My Assurity Term Life Policy? (2026 Guide)

Why term policies are rarely sold as-is

Buyers in the life settlement market are purchasing a future death benefit. A term policy that expires in four years and cannot be extended offers very little of that, because the odds that the death benefit is ever paid are small. That is why term is almost never settled in its original form.

What can be settled is the permanent policy a term contract converts into. Most term contracts include a conversion privilege: the right to exchange the term coverage for a permanent policy the carrier is then issuing, without any new medical underwriting. That last clause is what makes conversion valuable to someone whose health has declined. Their term policy, priced years ago on the basis of good health, becomes a permanent policy at rates that no new application could produce.

So the practical sequence for a term owner is: confirm the conversion right, confirm the deadline, convert, then — and only then — evaluate whether the resulting permanent policy is worth keeping, surrendering or selling.

Who to contact about an Assurity term policy

Assurity Life Insurance Company is a Nebraska-domiciled stock life insurer, incorporated on March 20, 1964, NAIC number 71439, with its home office at 2000 Q Street, Lincoln, Nebraska 68503. Unlike many carriers whose old term blocks were sold or reinsured away, Assurity still administers its own business. AM Best’s December 24, 2025 credit report on Assurity Life Insurance Group describes the ownership chain as Assurity Group, Inc. — a Nebraska non-insurer mutual holding company — owning Assurity Holdings, Inc., which owns Assurity Life Insurance Company.

Client services: 800-869-0355, clientservices@assurity.com, or P.O. Box 82533, Lincoln, NE 68501-2533. The main company number is 402-476-6500. If your policy was issued under a predecessor name — Woodmen Accident and Life, Security Financial Life or Lincoln Direct Life — it is still an Assurity contract; those organizations’ mutual holding companies merged in 2001 and again in 2007. New York policies may sit with Assurity Life Insurance Company of New York, formed in 2016.

Finding your conversion deadline

Conversion deadlines are set by the specific policy form, and they are not uniform across carriers or even across product generations at the same carrier. Do not rely on a general rule you read online, including this one. Get the answer in writing from Assurity.

Ask client services these five questions and request the response by mail or email:

Is this policy convertible, and under what provision?
What is the last date on which conversion may be exercised — expressed both as an attained age and as a policy anniversary?
Which permanent products is it currently convertible into?
Is the conversion full or partial, and is evidence of insurability required?
What would the premium be for the converted policy at the current attained age?

Deadlines commonly key off an attained age or a number of policy years, whichever comes first, and they are enforced strictly. A conversion right that expires is gone. That is why an approaching deadline is the single most time-critical item a term owner can be sitting on.

Step	Ask Assurity	Why it is time-critical
1. Confirm convertibility	Is this policy convertible, under which provision?	Not every term form is
2. Get the deadline in writing	Last date, by attained age and policy anniversary	The right expires permanently
3. Identify eligible products	Which permanent policies it converts into today	You convert into the current shelf
4. Price the conversion	Premium at current attained age, full and partial	Determines affordability
5. Decide before the window closes	Submit the conversion request	No extensions after expiry

What an Assurity term policy can convert into

A conversion privilege is only as useful as the permanent products the carrier is currently issuing, because you convert into today’s portfolio, not into the products that existed when the policy was written. On that point Assurity is in a better position than many closed blocks. AM Best’s December 2025 report describes Assurity’s current life offerings as including whole life, term life and universal life, alongside disability income, accident expense, critical illness, hospital indemnity and accidental death coverage and fixed deferred and immediate annuities. Net written premium grew 6.6 percent in 2024, and the company is licensed in all 50 states plus the District of Columbia through its combined structure.

In other words, there is a live permanent product shelf to convert into. Ask Assurity which specific products your contract’s conversion provision permits, because the eligible list is defined by the provision and by what the company is issuing at the time of conversion, not by the full catalog.

The choice between converting to whole life and converting to universal life is consequential. Whole life brings guaranteed cash values and a fixed premium. Universal life brings a lower initial cost and internal charges that rise with age. Which one produces a better outcome depends on how long the coverage is expected to be needed and who will be paying the premiums.

If the conversion window has already closed

Sometimes the deadline has passed, or the policy was never convertible. That narrows the options but does not always eliminate them:

Annual renewal. Many term contracts continue past the level period on an annually increasing premium. The cost usually climbs sharply, but it buys time.
Accelerated benefit riders. Assurity’s product line includes accelerated death benefit features for terminal, chronic or critical illness. If the insured’s health has changed materially, ask whether a rider on the existing contract can be triggered. This is not a sale, and it does not require anyone’s permission beyond meeting the rider’s eligibility terms.
Reduced coverage. Lowering the face amount can make an increasing renewal premium manageable.
A short-dated term settlement. In narrow circumstances, a term policy with a very impaired insured and remaining level years may still be reviewed by the market. This is uncommon, and no one should promise you an outcome.

The paperwork that completes a transfer

If a converted policy is later sold, the transaction only becomes real when the carrier records a change of ownership — usually an absolute assignment or change-of-owner form, plus a beneficiary change. As of July 2026, Assurity does not publish a general consumer change-of-ownership form on its public pages, so request the current one from client services at 800-869-0355 and confirm notarization requirements, whether any assignee or irrevocable beneficiary must sign, whether spousal consent applies in your state, and where originals go.

Keep paying premiums throughout. A lapse during a pending conversion or transfer can end both. And get written confirmation from Assurity when the change is recorded — a phone assurance is not a record.

How financially strong is Assurity?

For a term owner considering a conversion, the carrier’s strength matters because you are about to enter a contract that could run for decades. As of a rating effective date of November 6, 2025, AM Best affirmed Assurity Life Insurance Group’s Financial Strength Rating at A- (Excellent) and its Long-Term Issuer Credit Rating at a- (Excellent), both with stable outlooks. AM Best assessed balance sheet strength as strongest and enterprise risk management as appropriate, while rating business profile as limited given the company’s size relative to national competitors.

Reported capital and surplus was about $436.9 million at year-end 2024, up from roughly $434.4 million a year earlier, on total assets near $2.48 billion. Ratings are point-in-time opinions and can be revised; confirm the current rating with AM Best or with Assurity directly before making a decision that depends on it.

Frequently Asked Questions

Can I sell an Assurity term policy without converting it first?

Usually not. Term has no cash value and the death benefit ends at the close of the level period, so there is little for a buyer to purchase. The conversion privilege, where it exists, turns the term coverage into permanent coverage without new medical underwriting, and it is the permanent policy that the settlement market evaluates. A small number of heavily impaired cases with remaining level years are exceptions, and none of that can be promised in advance.

How do I find my conversion deadline?

Ask Assurity in writing at 800-869-0355 or clientservices@assurity.com for the last date conversion may be exercised, expressed both as an attained age and as a policy anniversary, plus the list of permanent products currently available for conversion. Deadlines are set by the individual policy form, so a general answer is not reliable for your contract. Request the response by mail or email and keep it.

Does converting require a new medical exam?

A conversion privilege typically allows the exchange without evidence of insurability, which is precisely what makes it valuable to someone whose health has declined. Whether that applies to your contract, and whether partial conversion is allowed, depends on the policy provision. Confirm both with Assurity before assuming.

What if I simply cannot afford the converted premium?

Converting only part of the face amount is often permitted and reduces the premium proportionally. You can also ask about reducing coverage, or whether an accelerated death benefit rider applies if the insured’s health has changed. If a converted permanent policy still does not fit the budget, that is the point at which a free, no-obligation policy review can lay out every remaining option, including surrender and the settlement market. Pine Lake does not purchase policies.

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.

Call (305) 209-7183 · Request a review online →

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