If you own a whole life policy issued by Assurity Life Insurance Company, the first thing worth knowing is that your policy has not been sold off to a runoff buyer. Unlike many blocks written in the 1980s and 1990s, Assurity’s in-force business is still administered by Assurity itself, from the same home office at 2000 Q Street in Lincoln, Nebraska. That matters, because every step of a possible sale runs through the carrier that issued the contract.
This page explains whether an Assurity whole life policy can be sold and how a settlement offer stacks up against the exits already written into your contract: cash surrender and reduced paid-up insurance. 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
- Who owns and services your Assurity policy in 2026
- Is an Assurity whole life policy legally sellable?
- Settlement offer vs. surrender value vs. reduced paid-up
- How dividends change the math on a participating policy
- What to request from Assurity before you decide
- The ownership change is the step that actually completes a sale
- How financially strong is Assurity, and does it matter here?
- Frequently Asked Questions
Who owns and services your Assurity policy in 2026
Assurity is unusual among mid-size carriers in that it never demutualized into a publicly traded company and never sold its individual life block to a third-party administrator. Per AM Best’s credit report on Assurity Life Insurance Group (AMB #070511, dated December 24, 2025), the structure runs three layers deep: Assurity Group, Inc., a non-insurer mutual holding company incorporated under Nebraska law, wholly owns Assurity Holdings, Inc., an intermediate stock holding company with no operations of its own, which wholly owns Assurity Life Insurance Company, the insurer that issued your contract. AM Best notes that owners of designated Assurity policies hold a membership interest in Assurity Group, Inc.
The company was incorporated in Nebraska on March 20, 1964 and carries NAIC number 71439, but its lineage runs further back. Three Nebraska organizations founded in the 1890s — Modern Woodmen Accident Association, Security Mutual Life and the Royal Highlanders — became Woodmen Accident and Life, Security Financial Life and Lincoln Direct Life. Their mutual holding companies completed mergers in 2001 and again in 2007, producing the Assurity Group structure that exists today. A separate subsidiary, Assurity Life Insurance Company of New York (NAIC #15940), was created in 2016 to serve New York residents.
So if your cover page reads Woodmen Accident and Life, Security Financial Life or Lincoln Direct Life, you are still an Assurity policyholder. Call client services at 800-869-0355 with the original policy number.
Is an Assurity whole life policy legally sellable?
Yes, as a general matter. A life insurance policy is personal property, and the owner of that property can transfer it. The U.S. Supreme Court settled the point in Grigsby v. Russell in 1911, and every state has since built a licensing and disclosure framework around life settlements. Whole life is among the more straightforward types to transfer because the death benefit is permanent and does not expire on a set date.
Two caveats apply to any carrier. Eligibility is driven by the insured’s age and health, the face amount and the cost of keeping the policy in force — not by the carrier’s name. And your own contract’s assignment language, not a general rule, governs how ownership can be moved. Nothing here is a promise that a given policy qualifies or that any particular amount is available; eligibility and value are determined case by case.
Settlement offer vs. surrender value vs. reduced paid-up
This comparison decides the question for a whole life owner, and it is why whole life takes more arithmetic than universal life or term. The contract already contains guaranteed exits. You need no one’s permission to use them, and any outside offer has to beat them.
Cash surrender value is the guaranteed amount Assurity will pay you to cancel the contract. It is stated in your policy’s table of guaranteed values and confirmed on an annual statement. It is the floor. A settlement offer that does not clearly exceed it is not an offer worth taking.
Reduced paid-up insurance converts your cash value into a smaller, fully paid death benefit. You stop paying premiums entirely and keep permanent coverage at a lower face amount. Where the real problem is premium affordability rather than a need for cash, reduced paid-up is often the quiet best answer, and it costs nothing but a form.
Extended term insurance instead uses the cash value to buy the full face amount for a limited number of years. It preserves the whole death benefit but puts an expiry date on it.
A settlement only makes sense when a qualified buyer’s offer exceeds the surrender value by a margin large enough to justify giving up the death benefit permanently. Ask Assurity for all three figures in writing first.
| Exit option | What you receive | What you give up |
|---|---|---|
| Keep paying premiums | Full death benefit, growing cash value | Ongoing premium cost |
| Policy loan | Cash now, policy stays in force | Loan interest; death benefit reduced by the loan |
| Reduced paid-up | Smaller permanent death benefit, no more premiums | Part of the face amount |
| Extended term | Full face amount for a limited number of years | Permanence — coverage expires |
| Cash surrender | Guaranteed surrender value | All coverage |
| Life settlement | A negotiated amount, if a buyer qualifies the case | All coverage; the buyer becomes owner |
How dividends change the math on a participating policy
Some Assurity business is participating, meaning it can receive policyholder dividends. AM Best’s December 2025 report lists policyholder dividends among the items affecting the group’s operating results. Dividends are never guaranteed, and whether your contract is participating depends on the policy form.
Where dividends exist, they matter three ways. Paid-up additions mean your real death benefit and cash value are both higher than the face amount printed on page one, so ask for the current total rather than the original. Premium offset means the out-of-pocket cost of keeping the policy may be lower than you think, which weakens the case for selling. Accumulated dividends left on deposit with interest are your money and should be accounted for in any exit.
Also check for outstanding policy loans or an automatic premium loan. Loans reduce both the surrender value and the net proceeds of a transfer, and an unnoticed automatic premium loan can quietly erode a policy the owner believes is fully funded.
What to request from Assurity before you decide
Every serious evaluation starts with carrier-issued paperwork, not an estimate. Assurity 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, and policy information is also available through the MyAssurity portal.
Ask for each of the following in writing:
- A current policy status letter: face amount, death benefit including paid-up additions, cash surrender value, loan balance and premium mode.
- The guaranteed values table, plus current reduced paid-up and extended term figures.
- A complete copy of the policy with all riders and endorsements.
- The current change-of-ownership and beneficiary change forms.
Read the policy pages yourself. A waiver-of-premium rider, an accelerated benefit rider for chronic or terminal illness, or a forgotten paid-up addition can change the decision entirely, and none of those show up in a quote.
The ownership change is the step that actually completes a sale
A settlement is completed only when the insurer records a change of policy ownership — usually an absolute assignment or change-of-owner request, together with a beneficiary change. Until Assurity records it, nothing has legally moved.
As of July 2026, Assurity does not publish a downloadable individual change-of-ownership form on its public consumer pages. Request the current form from client services at 800-869-0355 and confirm notarization, signatures from any assignee or irrevocable beneficiary, spousal consent in community property states, where originals go, and the processing time. A collateral assignment to a bank must be released first; if a trust owns the policy, the trustee signs.
How financially strong is Assurity, and does it matter here?
It matters to a buyer, who would pay premiums for years in exchange for a death benefit the carrier must eventually pay. As of the 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 stable outlook, assessing balance sheet strength as strongest. Capital and surplus was about $436.9 million at year-end 2024 on total assets near $2.48 billion, and the group is licensed in all 50 states plus the District of Columbia.
Assurity is also not in runoff: AM Best lists whole life, term life and universal life among current offerings, with 6.6 percent net written premium growth in 2024. An actively writing carrier generally means better service for in-force owners than a closed block run by a third-party administrator. Ratings change; confirm the current one with AM Best or Assurity.
Frequently Asked Questions
Did Assurity sell my whole life policy to another company?
No. Per AM Best’s December 2025 credit report, Assurity Life Insurance Company remains wholly owned by Assurity Holdings, Inc., which is wholly owned by Assurity Group, Inc., a Nebraska mutual holding company. Policies issued by predecessor names such as Woodmen Accident and Life, Security Financial Life or Lincoln Direct Life are serviced by Assurity today. New York policies may sit with Assurity Life Insurance Company of New York, formed in 2016.
Will Assurity tell me what my policy is worth if I sell it?
No, and it is not the carrier’s role to. Assurity can give you the guaranteed cash surrender value, the reduced paid-up and extended term figures, and the current death benefit including any paid-up additions. What a third-party buyer might offer is a separate market question that depends on the insured’s age and health and on the cost of maintaining the policy. Start with the carrier numbers, because they are the benchmark any offer must beat.
Is a life settlement better than surrendering an Assurity whole life policy?
Only if the net offer clearly exceeds the guaranteed surrender value after all costs. Whole life is the one policy type where the carrier’s own guaranteed values give you a hard floor to measure against. Many owners find that reduced paid-up insurance solves the actual problem, which is usually premium affordability rather than a need for a lump sum. Compare all of the options in writing before deciding.
How do I start a free policy review?
Gather your policy pages, the most recent annual statement and a current premium notice, then request a free, no-obligation policy review. The review explains what you already own, what your guaranteed options are, and whether the life settlement market is even relevant to your situation. There is no charge and no obligation, and Pine Lake does not purchase policies.
Does Assurity have to approve a sale?
Assurity does not approve or reject the economics of a transaction, but it must record the change of ownership for a transfer to be effective. That means completing the carrier’s current change-of-owner or absolute assignment paperwork exactly as required, releasing any collateral assignment, and getting written confirmation from the company that the change was recorded.
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
- Sell My Assurity Universal Life Policy
- Sell My Assurity Term Policy
- Cash Value Loan Vs Surrender
- Extended Term Nonforfeiture Option
- Keep Or Sell Policy Npv
- Change Of Ownership Life Insurance
- How Life Settlement Value Is Calculated
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.