Yes — a Brighthouse Financial term life policy can be sold, but nearly always only after it is converted to permanent coverage, and the right to convert expires on a fixed date. The sale itself never needs the carrier’s blessing: a buyer purchases the contract from you and Brighthouse records the change of owner. The real constraint is the conversion privilege written into your term contract.
The reason is simple. Term insurance has no cash value and is designed to end. A buyer paying real money today needs coverage that will pay whenever the insured dies, not coverage that may expire first. Converting turns a temporary contract into a permanent one — and it usually happens without any new medical underwriting.
If your health has changed since the policy was issued, that conversion right may be the most valuable thing you own that you have never thought about. Pine Lake Life Solutions is not affiliated with Brighthouse Financial or MetLife.
In This Article
Whose Term Policy Is It Now?
MetLife completed the spinoff of its U.S. retail life and annuity business into Brighthouse Financial on August 4, 2017. Individual term policies sold through that retail channel generally moved with it, so a contract that says MetLife may be serviced today by Brighthouse in Charlotte, North Carolina (verify with the number on your premium notice). Brighthouse continued to offer individual term products after the separation under its own brand (verify current product availability as of 2026).
Brighthouse also announced in 2025 an agreement to be acquired by an outside investment firm, subject to regulatory approval — verify the status before assuming who handles your file. None of these corporate events shorten or extend your conversion deadline; that comes from your contract alone.
Why Term Alone Is Not Sellable
There is no account value in a term policy, nothing to borrow against, and nothing to surrender. The contract pays only if the insured dies during the level period. Once that period ends, coverage either stops or continues at an annually increasing rate that quickly becomes unaffordable.
To a buyer, that is not an asset. Paying a lump sum for a contract that may simply expire makes no sense. The conversion privilege solves it: exercised in time, it produces a permanent policy that will pay eventually, which is exactly what the secondary market purchases.
Finding Your Conversion Deadline
Open the contract and look for the conversion or exchange provision. Most convertible term is limited two ways simultaneously — by the insured’s attained age (frequently somewhere in the sixties or seventies) and by policy duration (often a set number of years or the end of the level premium period). Whichever limit arrives first ends the privilege, permanently. There is no appeal and no reinstatement.
If you cannot find the provision, call the service number on your premium notice and ask three questions in this order: Is this policy convertible? Until what date? Which permanent products can it convert into, and at what premium? Get the answers in writing. If the deadline is inside the next year, treat it as the deadline for your entire decision, not one step in it.
| Coverage Type | Typical Conversion Window | What to Confirm in Writing |
|---|---|---|
| Individual level term | Limited by attained age and by policy duration; earliest limit controls | Exact end date and eligible conversion products |
| Return-of-premium term | Same limits; refund feature is separate from convertibility | Whether converting forfeits the premium refund |
| Group or employer term | Often about 31 days after coverage ends | Deadline, convertible amount, and available product |
| Annually renewable term | Varies widely; may be short or absent | Whether any conversion right exists at all |
| Term rider on a permanent policy | Depends on the base contract | Whether the rider alone is convertible |
What Happens at Conversion
Conversion exchanges the term death benefit for a permanent policy from the same carrier with no new medical exam and no health questions — the point of the privilege is that a diagnosis after issue cannot be used against you. Premiums rise substantially, because permanent coverage at an older age costs far more than term did.
Which permanent product you land in matters to a buyer. Guaranteed universal life, with its no-lapse guarantee, is the friendliest outcome because the future premium is contractually known. A current-assumption or indexed policy is workable but introduces variability that buyers price for. Partial conversion — converting only part of the face amount — is often permitted, and some contracts include a conversion credit in early years that offsets part of the new policy’s cost. Confirm the specifics with the carrier, since conversion menus vary by product and change over time.
Group and Employer Coverage: A 31-Day Trap
If your term coverage came through an employer, different rules apply. Group life certificates commonly include a conversion right that must be exercised within a short window — often around 31 days — after coverage ends because you retired, left the job, or lost eligibility. Miss that window and the coverage typically disappears with nothing to convert and nothing to sell.
Retirees who assume their group coverage simply continues are the ones most often caught by this. If you are approaching retirement and hold meaningful group life coverage, ask HR or the carrier for the conversion terms in writing well before your last day. Amounts, deadlines, and available conversion products vary by plan — verify yours rather than relying on a general rule.
After Conversion: The Sale Itself
Once permanent coverage is issued, the process is standard. Provide the new policy statement and an in-force illustration, sign a HIPAA authorization so independent underwriters can estimate life expectancy from medical records, review written offers, sign contracts, and let funds settle with an independent escrow agent. The change-of-ownership form goes to Brighthouse, escrow releases payment once the transfer is confirmed, and most states then allow a rescission period.
According to the federal GAO’s study of this market (GAO-10-775), sellers have typically received somewhere between 10% and 35% of the policy’s face value — on average about four to eight times what surrendering would have paid. Offers are priced against the converted policy’s death benefit. Conversion and settlement are frequently coordinated so the two happen in close sequence rather than months apart.
Who Qualifies — and What to Do Next
The strongest candidates: insured roughly 65 or older, or younger with significant health changes since issue; death benefit of $100,000 or more; policy past the two-year contestability period; and a conversion privilege still open. A policy with no conversion right, an expired window, or a small face amount generally cannot be placed.
The next step costs nothing: locate the conversion provision, confirm the deadline with the carrier, and send the policy cover page for a free review. See what policies qualify, the comparison at settlement versus surrender, or the education center for background. Questions can go to (305) 209-7183.
Frequently Asked Questions
Can I sell a term policy without converting it?
Rarely. Term has no cash value and can expire, so a buyer is generally purchasing permanent coverage created by exercising the conversion privilege. If the privilege has expired, there is usually nothing to sell.
Will I have to take a medical exam to convert?
Typically no. A conversion privilege obligates the carrier to issue permanent coverage without new underwriting, regardless of health changes since the policy was issued. Confirm the exact terms in your own contract, since provisions differ by product and issue year.
How do I find my conversion deadline?
Read the conversion or exchange provision in the policy, then confirm with the carrier’s service center in writing. Most convertible term is limited by both attained age and policy duration, and whichever limit comes first controls. Once it passes, it cannot be reinstated.
What about coverage through my employer?
Group life certificates usually allow conversion only within a short window after coverage ends, often around 31 days. Ask HR or the carrier for the deadline, the convertible amount, and the available product in writing before you leave the job. Terms vary by plan, so verify yours.
My term policy says MetLife. Who services it?
MetLife spun off its U.S. retail life business into Brighthouse Financial, completing the separation on August 4, 2017, so many individual policies are now serviced by Brighthouse. Your contract terms, including the conversion provision, are unchanged. Use the number on your premium notice to confirm.
Does the premium go up after conversion?
Yes, significantly — permanent insurance at an older age costs much more than term. That higher cost is why many people convert and then sell rather than convert and keep paying. Ask the carrier for the exact converted premium before proceeding.
Does Brighthouse have to approve the sale?
No. After conversion, the permanent policy is your property and a buyer purchases it from you. The carrier processes the change of owner and beneficiary as an administrative matter.
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Related Reading
- What Policies Qualify For Life Settlement
- Life Settlement Vs Surrender
- Education Center
- How It Works Policy Options
- Sell My Brighthouse Guaranteed Universal Policy
- Sell My Brighthouse Universal Life 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.