Yes — an EMC National Life universal life policy can be sold in a life settlement if you and the policy qualify, and universal life is the single most common policy type in the secondary market. The contract is your property. A buyer purchases it from you and becomes the owner and beneficiary; the insurance company’s permission is not needed, and the carrier is not a party to your decision.
EMC National Life was the Des Moines, Iowa life company connected to Employers Mutual Casualty Company, a property-casualty insurer founded in Des Moines in 1911. The life block was later sold and renamed, and a meaningful share of the book was group and worksite business. Two consequences for you in 2026: your statement may arrive under a company name you do not recognize, and you should check whether what you hold is an individual policy or a certificate under a group plan, because only an individual policy can be sold.
The rest of this guide is about the mechanics that make older universal life policies land in the settlement market in the first place — interest crediting that fell far below what was illustrated, cost of insurance that climbs steeply after 70, and a lapse date most owners have never seen. Pine Lake Life Solutions is not affiliated with, endorsed by, or acting on behalf of EMC National Life or its successor.
In This Article
- Why Universal Life Ends Up for Sale So Often
- The In-Force Illustration Is the Whole Document
- Cost of Insurance Increases and What They Signal
- How Buyers Actually Value a Universal Life Policy
- Individual Policy or Group Certificate? Check First
- Documents and the Free Review
- Timing, Escrow, and the Rescission Window
- When Keeping the Policy Is the Better Answer
- Frequently Asked Questions
Why Universal Life Ends Up for Sale So Often
Universal life separates the pieces of a policy: you pay flexible premiums into an account, the company credits interest, and it deducts monthly charges for the cost of insurance and expenses. When the account can no longer cover the deductions, the policy lapses — even if you have paid every bill you were sent.
Policies sold in the 1980s, 1990s, and early 2000s were commonly illustrated at credited rates in the 8% to 12% range, reflecting the interest environment of the era. Those rates fell for decades, and many of those contracts have spent years crediting at or near their guaranteed minimum, which is often 3% or 4%. Meanwhile the cost of insurance rises every year with the insured’s age, and it rises fastest in the 70s and 80s.
The result is the classic phone call: a notice arrives saying the premium has to double or triple to keep the policy alive to age 100. That is the moment a settlement becomes worth pricing, because the alternative is often surrendering for very little or letting the policy lapse for nothing.
The In-Force Illustration Is the Whole Document
Request an in-force illustration from the servicing company and ask for it in two versions: current assumptions and guaranteed assumptions.
- Current assumptions show what happens if today’s credited rate and current cost-of-insurance charges continue. This is the optimistic version.
- Guaranteed assumptions show what happens at the contract’s minimum credited rate and maximum charges. This is the worst case the company is contractually allowed to impose.
Look for one number in each: the year the policy lapses. The gap between those two years tells you how much risk you are carrying. Also ask for the premium required to carry the policy to a target age. See what an in-force illustration is for a plain-English walkthrough of what to request and how to read it.
Cost of Insurance Increases and What They Signal
Universal life contracts specify a maximum cost-of-insurance rate but let the company charge less. Over the past decade several carriers across the industry raised the rates they charge toward those contractual maximums on older blocks, and that repricing hit owners in their 70s and 80s hardest.
If your policy took an increase, three things are true at once: your account value is draining faster than planned, your projected lapse date moved closer, and — counterintuitively — your policy may still be worth real money to a buyer who is pricing the death benefit rather than the account balance. Do not assume a struggling universal life policy is worthless. Struggling is the normal profile of a settlement candidate.
Confirm with the servicing company whether your specific contract has had any cost-of-insurance adjustment as of 2026, and get the answer in writing.
How Buyers Actually Value a Universal Life Policy
A buyer is estimating two things: how long premiums will have to be paid, and how much premium is required each year to keep the contract in force. Universal life is attractive precisely because premium is flexible — a buyer can often fund the policy at a lower level than the original schedule and still keep it alive.
What helps your offer: a large death benefit, a health profile that shortens life expectancy, low required premium relative to face, and a contract without heavy surrender charges. What hurts: a small face amount, an outstanding loan, very high required premium, or a policy so young it is still inside the two-year contestability period.
Federal research on the market (GAO-10-775) found sellers typically received roughly 10% to 35% of the death benefit, and averages well above surrender value. Those are market-wide ranges, not a quote. Our page on how much you can get for a policy explains what moves the number.
| Warning Sign on Your UL Policy | What It Usually Means | What to Do Next |
|---|---|---|
| Notice that premium must increase | Account value is not covering monthly charges | Request an in-force illustration both ways |
| Credited rate at the guaranteed minimum | The original illustration will not hold | Ask for the projected lapse year |
| Cost-of-insurance increase letter | Charges moved toward contractual maximums | Get the adjustment confirmed in writing |
| Account value falling year over year | The policy is running down | Compare settlement, surrender, and reduced face |
| Outstanding policy loan | Interest is compounding against the account | Get a payoff figure to closing date |
Individual Policy or Group Certificate? Check First
Because worksite and group business was a real part of this book, some people holding “EMC National Life” paperwork actually hold a certificate under an employer or association plan rather than a policy they own.
The tell: a certificate references a group or master policy number and an employer or association name. A certificate cannot be sold as-is. It must first be converted into an individual policy, and conversion windows after leaving employment are short — commonly about 31 days. If that describes your situation, read our companion page on selling an EMC National group life policy before you do anything else, because the deadline moves faster than the settlement process does.
Documents and the Free Review
To get started, one page is enough: the policy cover page showing insurer, policy number, face amount, and issue date. That is all a free, no-obligation review needs to tell you whether the policy is a realistic candidate.
If it is, the full file adds: the most recent annual statement (account value, surrender value, loan balance, current premium), the in-force illustration at current and guaranteed assumptions, and a HIPAA authorization so life expectancy can be estimated from medical records. Keep any medical release specific and revocable.
Timing, Escrow, and the Rescission Window
From application to funded payment, expect 60 to 120 days. Medical record retrieval is usually the bottleneck; a slow carrier service center is the second most common delay.
Once offers arrive, get everything in writing and ask for both gross and net-of-commission numbers if a broker is involved. Sign contracts only where an independent escrow agent holds the funds, and never transfer ownership against a promise of later payment. After the carrier records the change of owner and beneficiary, escrow releases your money, and most states give you a rescission window to unwind the sale. Compare the alternative on our settlement vs. surrender page.
When Keeping the Policy Is the Better Answer
Selling is not automatically right. If heirs still depend on the death benefit and the premium is affordable, keep it. If a smaller death benefit at a sustainable premium solves the problem, ask the servicing company whether the face amount can be reduced. If you have a qualifying serious illness, an accelerated death benefit rider may pay out without any sale at all. And if the policy is under $100,000 of death benefit, a settlement is unlikely to be available regardless.
This page is education, not legal, tax, or investment advice — decisions about a policy this size deserve a conversation with your own tax professional and attorney. To see where you stand, send the policy cover page for a free review or call (305) 209-7183. More background is in our education center.
Frequently Asked Questions
Can I sell a universal life policy that is about to lapse?
Often yes — a policy heading toward lapse is a very typical settlement candidate, because a buyer can fund the premium and keep it in force. The important thing is not to let it lapse while you are deciding. A lapsed policy has nothing left to sell.
Does the carrier have to approve the sale?
No. The policy is your property, and the buyer purchases the contract from you. The servicing company’s only role is to record the new owner and beneficiary once the sale closes. Pine Lake is not affiliated with, endorsed by, or acting on behalf of the carrier.
Why does my statement show a different company name than my policy?
Life insurance blocks get sold and companies get renamed. The contract, its guarantees, and its charges do not change — only the servicing entity does. Confirm who administers your policy as of 2026 by calling the number on your most recent statement or premium notice.
What exactly should I ask the carrier for?
Ask for an in-force illustration at both current and guaranteed assumptions, plus the premium required to carry the policy to a target age such as 95 or 100. Also ask for the current account value, net surrender value, and any loan balance. Request it in writing so you have a dated record.
My account value is almost nothing. Is the policy still worth something?
Possibly. Buyers price the death benefit and the premium needed to keep it alive, not the account balance. A policy with little cash value but a large face amount and a modest required premium can still draw offers, while a heavily funded policy may not. Only a review of the actual numbers can tell you.
How much could I receive?
Federal research on the market (GAO-10-775) found sellers typically received roughly 10% to 35% of the death benefit, several times what surrendering would have paid. That is a market-wide range and not a quote for your policy. Age, health, face amount, and required premium all move the result.
What if I have a group certificate rather than an individual policy?
A group certificate cannot be sold while it remains group coverage, because the employer or association owns the master contract. It generally has to be converted into an individual policy first, and the window after leaving employment is commonly about 31 days. Confirm your exact deadline with the plan administrator.
How long does it take and how do I get paid?
Typically 60 to 120 days. Your funds should be held by an independent escrow agent and released only after the insurer confirms the ownership transfer. Most states also provide a rescission period afterward during which you can unwind the sale and return the money.
Find out what your policy is worth — free, confidential, no obligation.
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Related Reading
- What Is An In Force Illustration
- How Much Can I Get For My Life Insurance Policy
- Life Settlement Vs Surrender
- Education Center
- Sell My Emc National Group Life Policy
- Sell My Emc National 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.