Yes — a Corebridge term life policy can often be sold, but almost always through one door: the policy must still be convertible to permanent coverage (or the insured must have a serious health impairment), because term insurance by itself has no cash value and expires worthless. The carrier’s permission is never required to sell — a policy is your personal property — but the conversion privilege is what turns an expiring term contract into an asset a buyer will pay for. And conversion privileges expire on a date printed in your contract.
On names: AIG spun off its Life & Retirement unit as Corebridge Financial in a September 2022 IPO. Term policies issued by American General Life — including the widely sold Select-a-Term series — now sit under Corebridge administration. If you have been searching “sell my AIG term policy,” it is the same paper; this page applies to it fully.
Because everything hinges on a deadline, treat this page as time-sensitive: find your conversion expiry date first, then read the rest. Pine Lake Life Solutions is not affiliated with Corebridge Financial, AIG, or American General.
In This Article
- Why Term Can Only Be Sold Through Conversion (Usually)
- Find Your Conversion Deadline — Today
- The Convert-and-Sell Play, Step by Step
- What a Converted Term Policy Is Worth
- When Letting the Term Policy Go Is Actually Right
- Red Flags to Avoid Under Deadline Pressure
- Other Corebridge Policies You May Hold
- Frequently Asked Questions
Why Term Can Only Be Sold Through Conversion (Usually)
A settlement buyer pays for a death benefit they expect to collect. Level term coverage ends at the end of its term (or becomes unaffordably expensive in annual renewals), so a buyer holding a bare term policy risks paying for coverage that vanishes before it pays. That is why the market generally will not buy term as-is.
Conversion changes the math completely. Exercising the conversion privilege swaps the term policy for permanent coverage — typically universal life — at the insured’s original underwriting class, with no new medical exam. The resulting permanent policy never expires as long as premiums are paid, which is exactly what a buyer needs. The main exception to the conversion requirement: an insured with a serious health impairment and limited life expectancy may find buyers for the term policy directly, since the remaining term may well outlast the life expectancy (this shades toward viatical territory — different rules, often tax-free proceeds; verify with a tax professional).
Find Your Conversion Deadline — Today
Your conversion window is defined in the policy: commonly the earlier of a set number of years (often the level-premium period or a portion of it) or a maximum age such as 70 (details vary by product and issue era — verify yours). American General’s popular term products generally carried conversion privileges, but the specifics differ by series and issue date.
Three ways to pin down the date:
- Read the policy’s conversion provision — usually a page or two, headed “Conversion Privilege” or similar.
- Call Corebridge’s service center with your policy number and ask for the conversion expiry date in writing.
- Send the policy to a specialist — a free review will locate the provision for you.
If the deadline has passed, options narrow sharply: the policy generally cannot be converted or sold (health-impaired direct sales aside), though some contracts allow annual renewal at steep cost. If the deadline is close — weeks or months out — you are holding a decaying option and should act before it expires.
The Convert-and-Sell Play, Step by Step
Here is how an expiring Corebridge term policy becomes cash:
- 1. Verify convertibility and deadline. Confirm with Corebridge in writing.
- 2. Get a settlement read before converting. A conversion obligates you to permanent-policy premiums. Before committing, have the case screened — age, health, face amount — to gauge whether offers are likely. Send the cover page or call (305) 209-7183; the review is free.
- 3. Convert the right amount. Partial conversions are often allowed — you can convert, say, $250,000 of a $500,000 term policy. Buyers sometimes prefer specific face amounts; converting only what the sale needs keeps premiums down.
- 4. Complete the conversion with Corebridge and keep proof of the effective date and first premium.
- 5. Run the settlement on the new permanent policy: documentation, offers, escrow, ownership change — see how the process works.
In some transactions the buyer coordinates the conversion as part of closing, which reduces your out-of-pocket risk. Ask whether that structure is available for your case.
| Term Policy Situation | Sellable? | Path | Urgency |
|---|---|---|---|
| Convertible; deadline months+ away; insured senior or health-impaired | Likely candidate | Screen first, then convert and sell | Moderate — don’t drift |
| Convertible; deadline within weeks | Possible | Convert (minimum viable amount) while running the review | Extreme |
| Conversion expired; insured healthy | Generally no | Renew annually or let expire | — |
| Any term; insured with serious illness / short life expectancy | Sometimes directly | Direct sale or viatical-type review without conversion | High |
What a Converted Term Policy Is Worth
Once converted, pricing follows the standard model: death benefit, the insured’s life expectancy, and the future premiums a buyer must pay. The federal GAO study (GAO-10-775) found settlement sellers typically received about 10% to 35% of face value. Because a freshly converted policy has essentially zero cash value, the alternative — letting the term lapse or expire — pays nothing at all. Any legitimate offer is pure gain versus that baseline.
The variables that move a term-conversion case up or down: the insured’s age and health (older and sicker means higher offers), the conversion product’s premium schedule (cheaper-to-carry policies price better), and the face amount converted. Pine Lake reviews policies with $100,000 or more of death benefit. For the broader eligibility screen, see what policies qualify, and for the baseline comparison, settlement vs. surrender.
When Letting the Term Policy Go Is Actually Right
Honesty matters here: most term policies should simply run their course. Converting to sell makes sense in a specific band of situations — and outside it, the premiums are wasted money:
- Insured under ~60 and healthy: offers are unlikely; let the term expire or keep it for protection.
- Face amount under $100,000: below most buyers’ minimums, including Pine Lake’s.
- Family still needs the coverage: keep it — term is the cheapest protection you will ever own, and replacing it later will cost more.
- Deadline already passed and health is good: there is usually nothing to sell; avoid anyone charging fees to “try.”
Conversely, if the insured is a senior, the face is six figures, health has declined since issue, and the coverage is no longer needed — that is precisely the case where an expiring term policy can turn into meaningful cash for care costs or a Medicaid spend-down plan.
Red Flags to Avoid Under Deadline Pressure
Term-conversion cases run on tight clocks, and pressure invites mistakes:
- Upfront fees. Reviews and offers are free from legitimate parties. Never pay to learn what a policy is worth.
- Advice to convert before anyone has screened the case. Conversion creates a premium obligation; screen first, convert second (unless the deadline forces the order — then convert the minimum viable amount).
- Ownership transfer before escrow funding. Your payment belongs with an independent escrow agent until Corebridge confirms the transfer.
- Verbal deadline assurances. Get the conversion expiry date from Corebridge in writing; a missed date is unrecoverable.
- Unlicensed intermediaries. Most states license settlement providers and brokers — verify with your state insurance department.
Other Corebridge Policies You May Hold
Term is often one layer of a household’s AIG-era coverage. If you also hold permanent Corebridge/American General policies, each has its own settlement calculus: see our guides to selling a Corebridge universal life policy, a Corebridge whole life policy, and a Corebridge GUL policy.
Whatever the mix, the first step is identical and free: send the policy cover page — insurer, policy number, face amount, issue date — for a no-obligation review, or call (305) 209-7183. For term policies, ask specifically for a conversion-deadline check; knowing the date changes everything else.
Frequently Asked Questions
Can I sell my Corebridge term policy as-is, without converting?
Usually not. Term has no cash value and expires, so buyers generally require conversion to permanent coverage first. The main exception is an insured with a serious health impairment whose life expectancy falls within the remaining term — those policies can sometimes be sold directly.
My policy says AIG or American General. Is it covered by this guide?
Yes. AIG spun off its Life & Retirement unit as Corebridge Financial in September 2022, and American General Life term policies are now administered under Corebridge. Same contract, same conversion provision, new branding.
How do I find my conversion deadline?
Check the policy’s conversion provision, or call Corebridge’s service center with your policy number and request the conversion expiry date in writing. Deadlines are commonly tied to the level-premium period or a maximum age such as 70, but products vary — verify yours specifically.
Does converting require a medical exam?
No. Conversion is exercised at your original underwriting class with no new medical underwriting. That is what makes it valuable: an insured whose health has declined keeps their original class, and declined health is also what generates meaningful settlement offers.
Can I convert only part of my term policy?
Often yes — many contracts allow partial conversion, such as converting $250,000 of a $500,000 policy. Converting only what the sale requires keeps the permanent-policy premiums lower. Confirm partial-conversion rules with Corebridge before filing.
What could the sale pay?
Converted policies are priced like any permanent policy. The federal GAO study (GAO-10-775) found sellers typically received about 10% to 35% of face value. Since an expiring term policy would otherwise pay zero, any legitimate offer is pure gain versus letting it lapse.
What should I send to get started?
The policy cover page — insurer, policy number, face amount, and issue date. The free review will also locate your conversion provision and deadline, which is the single most important fact in a term case. There is no cost or obligation.
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
- Life Settlement Vs Surrender
- What Policies Qualify For Life Settlement
- How It Works Policy Options
- Education Center
- Sell My Corebridge Universal Life Policy
- Sell My Corebridge 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.