Yes. A Brighthouse Financial universal life policy can be sold in a life settlement — the contract belongs to you, a buyer purchases it directly, and Brighthouse’s approval is not needed for the sale itself. The carrier’s job is to process the change-of-owner and change-of-beneficiary forms once the transaction closes.
Universal life is the policy type that shows up in the secondary market more than any other, and the reason is built into the product. UL charges a monthly cost of insurance that rises with the insured’s age, deducted from an account value that has often earned far less than the illustration assumed. Sooner or later many owners receive a notice asking for a premium several times what they planned to pay.
This page explains what to check on the statement, why the in-force illustration is the document that decides everything, and how the process runs. Pine Lake Life Solutions is not affiliated with Brighthouse Financial or MetLife.
In This Article
Where Brighthouse Came From
Brighthouse Financial began operating as a standalone company when MetLife spun off its U.S. retail life and annuity business, a separation completed on August 4, 2017. The company is headquartered in Charlotte, North Carolina and trades on the NYSE as BHF. Its main insurance subsidiary was previously known under a MetLife name before the separation (verify the exact entity printed on your contract).
Two practical consequences for a universal life owner. First, a policy sold decades ago by a MetLife agent — or by a predecessor company MetLife had earlier absorbed — may now be serviced entirely by Brighthouse, which surprises people who have not opened the mail in a while. Second, in 2025 Brighthouse announced an agreement to be acquired by an outside investment firm, pending regulatory approvals; verify the current status in 2026, because the name on the service center can change while your contract does not.
The Mechanics That Create Sellers
A universal life policy is an account, not a savings plan with a fixed outcome. Premiums go in, the insurer credits interest, and every month it subtracts a cost-of-insurance charge plus administrative and rider fees. The policy stays in force only while the account value can absorb those deductions.
Cost of insurance is age-banded, so it rises modestly in your fifties and then accelerates. Many policies from the 1980s and 1990s were illustrated at credited rates well above what has actually been available for the past two decades. The result is a squeeze: less interest coming in, much larger charges going out. When an owner is told the level premium they have paid for 25 years will no longer sustain the policy, the realistic options are pay far more, surrender for whatever remains, lapse, or sell.
The In-Force Illustration Decides Everything
Request an in-force illustration from Brighthouse’s policyholder service center — it projects the policy forward at current charges and current credited rates rather than the assumptions used at issue. Ask for at least two versions: one showing the premium required to carry the policy to roughly age 100 at current assumptions, and one run at guaranteed maximum charges with the guaranteed minimum credited rate.
Look for the year the account value hits zero. If that year arrives in your late seventies or eighties without a large premium increase, the policy is on a lapse path — and that is precisely the profile secondary-market buyers seek out, because they are willing to fund the premiums in exchange for the eventual death benefit.
| Stage | Typical Duration | What Happens |
|---|---|---|
| Free policy review | A few days | Cover page screened to see if the policy is a realistic candidate |
| Documentation | 2–6 weeks | In-force illustration requested; medical records gathered under HIPAA authorization |
| Life-expectancy underwriting | 2–4 weeks, often overlapping | Independent underwriters estimate life expectancy from records |
| Offers and negotiation | 1–3 weeks | Written offers; gross and net-of-commission figures reviewed |
| Contracts, escrow, transfer | 3–6 weeks | Ownership change filed with the carrier; escrow releases payment on confirmation |
What Moves the Offer Up or Down
Four inputs dominate: the insured’s age, the insured’s health as assessed by independent life-expectancy underwriters reviewing medical records, the size of the death benefit, and the projected cost of keeping the policy in force. A $500,000 death benefit that costs $6,000 a year to sustain is a far more attractive purchase than the same benefit costing $30,000 a year.
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. Any outstanding loan comes off the top, because it reduces what the buyer eventually collects. The number to measure an offer against is not the face amount — it is the cash surrender value Brighthouse would pay you today, which for a depleted UL policy can be very small.
Documents to Collect
Three documents do most of the work, and one of them is enough just to get started:
- The policy cover page — insurer, policy number, face amount, issue date. Enough for a free, no-obligation review.
- The most recent annual statement — account value, surrender value, itemized monthly deductions, loan balance, and any riders.
- An in-force illustration at current charges, plus a guaranteed-assumptions version.
A HIPAA authorization comes later so underwriters can request medical records. Make sure it names who receives the records and that it is revocable.
Change of Ownership and Escrow
The transaction is completed through the carrier’s own absolute assignment or change-of-owner process, typically with a change-of-beneficiary form filed alongside it. Signatures may need to be notarized or guaranteed depending on the form. Brighthouse processes the assignment administratively; it does not evaluate whether selling was a good idea.
By the time you sign that form, your funds should already be held by an independent escrow agent. Escrow releases the money once the insurer confirms the ownership change. Most states then provide a rescission window during which a seller may unwind the sale — the length varies, so ask what applies to you before closing.
The Timeline and the Alternatives
Expect roughly 60 to 120 days end to end, with the documentation stage accounting for most of it. Before committing, price the alternatives: reducing the face amount to lower the required premium, using available cash value to fund the policy for a period, a policy loan, surrender, or a retained-death-benefit structure that ends the premium obligation while keeping part of the coverage.
Keep the policy in force while any of this is underway. For the full comparison see settlement versus surrender and how the policy options work, or start with the cover page and a call to (305) 209-7183.
Frequently Asked Questions
Do I need Brighthouse’s permission to sell?
No. The policy is your property and a buyer purchases the contract from you. Brighthouse records the change of owner and beneficiary once the sale closes, which is an administrative step rather than an approval.
Why is my universal life policy suddenly asking for a much larger premium?
Cost-of-insurance charges rise with the insured’s age and are deducted monthly from the account value. Many older policies were illustrated at credited rates far above what has actually been available since. When charges outrun interest and premiums, the carrier requires more money to keep the policy in force.
What exactly is an in-force illustration?
It is a projection prepared by the carrier showing how your policy performs going forward using current charges and current credited rates instead of the original assumptions. It reveals the premium needed to sustain the policy and the year it would otherwise lapse. It is the single most important document in pricing a universal life policy.
My policy has MetLife on it. Does that change anything?
No. MetLife spun off its U.S. retail life business into Brighthouse Financial in a separation completed on August 4, 2017, so many individual MetLife policies are now serviced by Brighthouse. Your contract rights are unchanged; only the service center differs.
How much could a Brighthouse universal life policy sell for?
It depends on age, health, death benefit, and the premium required going forward. The GAO’s market study (GAO-10-775) found sellers typically received about 10% to 35% of face value, roughly four to eight times surrender value. Outstanding loans are subtracted from any offer.
Should I stop paying premiums while I explore a sale?
No. If the policy lapses, there is nothing left to sell and reinstatement may require new evidence of insurability. Keep it in force until a transaction actually closes.
What if I only want to reduce the premium, not sell?
Reducing the face amount, adjusting riders, or using existing cash value to fund the policy for a period can lower the cost while keeping coverage. Ask the carrier to illustrate those alternatives so you can weigh them against an offer.
Is Pine Lake affiliated with Brighthouse?
No. Pine Lake Life Solutions is independent and has no affiliation with Brighthouse Financial or MetLife. This page is educational and is not tax, legal, or investment advice.
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Related Reading
- Cash Surrender Value Life Insurance
- Life Settlement Vs Surrender
- How It Works Policy Options
- Education Center
- Sell My Brighthouse Guaranteed Universal Policy
- Sell My Brighthouse Whole 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.