Can You Sell a Fidelity Guaranty Term Life Policy? (2026)

A worked example of why the deadline matters more than the level period

Take a real pattern. A man buys a 30-year level term policy at age 48 with a $750,000 face amount. He assumes he has until 78 to make decisions. At 71 he is diagnosed with a serious cardiac condition and starts wondering whether the policy is worth something.

He is seven years short of the level period ending. But the conversion provision on his form cuts off at attained age 70. The window closed thirteen months before the diagnosis, without any notice, and nothing in his premium bill changed. The policy will run another seven years and then vanish. On those facts, the answer to “can I sell this” is no — not because of his health, not because of the size, but because of a single date on page three of the contract.

Change one variable. Suppose the form allowed conversion to the earlier of the end of the level period or age 75. Then at 71 he has four years, a $750,000 face amount, and materially impaired health. That combination is exactly what the secondary market pays for. Same man, same policy size, same diagnosis — opposite outcome, decided by one clause.

This is why the instruction on this page is not “call a broker.” It is: find the clause, today. Our general treatment of selling a term life insurance policy covers the same logic across carriers.

Five places the conversion deadline hides

The provision is rarely called “conversion deadline.” Look in all five of these:

1. The policy schedule or specification page. Often carries a line reading “Conversion Expiry Date” or “Last Date to Convert,” sometimes expressed as a policy anniversary rather than a calendar date.
2. The provision headed “Conversion Privilege” or “Right to Exchange.” Usually two to four paragraphs in the body of the contract.
3. A separate conversion rider. On some forms the privilege is a rider with its own page and its own terms, and riders are the pages most likely to be missing from a photocopied policy.
4. An endorsement. Carriers occasionally extend or restrict conversion rights by endorsement after issue. An endorsement dated later than the policy controls.
5. The application. Rarely, the conversion class selected at application constrains the products available at conversion.

Then confirm it by telephone. Ask F&G policyholder services two questions and write down the answers with the date and the representative’s name: What is the last date I may convert this policy? and Which permanent products is this policy convertible to today? The second question matters because the conversion product menu is typically set at the time of conversion, not at issue, and a carrier can narrow it. A privilege pointing at a single expensive product is worth less than one pointing at a full shelf. Our explainer on term conversion riders covers the standard language.

Which state’s law governs your F&G policy — and why it may not be Iowa

This is a genuine trap with this carrier, because the company has moved.

Fidelity & Guaranty Life Insurance Company was incorporated in 1959 under the laws of Maryland and began business in 1960. In 2013 the company announced a relocation of its headquarters to Des Moines, Iowa, and it is today domiciled and licensed in Iowa, supervised by the Iowa Insurance Division.

But your policy’s provisions are governed by the law of the state where it was delivered to you, not by the insurer’s current domicile. A term policy issued to a Pennsylvania resident in 1994 was approved by the Pennsylvania Insurance Department under Pennsylvania law and carries Pennsylvania’s mandated provisions — grace period, reinstatement, incontestability, misstatement of age — regardless of where the company’s headquarters sat then or sits now.

Two practical consequences. First, when you want to know your grace period or reinstatement rights, the answer lives in your policy and in your state’s insurance code, not in Iowa’s. See what a grace period is for the standard mechanics. Second, if you ever need to complain, you have two options: the insurance department of your own state, which regulates the insurer’s conduct toward you as a resident, and the Iowa Insurance Division, which is the domiciliary regulator responsible for the company’s solvency and market conduct examinations. Filing with your own state’s department is usually faster and more effective for a service dispute.

Fact about your policy	What it changes
Conversion window still open	The policy can become a marketable permanent contract
Conversion window closed, insured healthy	No resale value; treat it as pure protection
Conversion window closed, terminal diagnosis	A viatical settlement may still be possible
Converted face amount under $100,000	Below most provider minimums; unlikely to draw a bid
Policy delivered in a state other than Iowa	That state’s code governs grace, reinstatement, incontestability
Level period ends within 24 months	Too little runway for most buyers, converted or not

What conversion produces, priced honestly

Conversion means the carrier issues a permanent policy without new underwriting, at the original underwriting class you qualified for when the term was issued, with no new medical questions and no new contestability period on the converted face amount. For an insured whose health has changed, that is an extremely valuable right, because a fresh application would produce a rating or a decline.

The cost is that the permanent premium is set at your attained age. Some rough orders of magnitude, using generic industry pricing rather than any specific F&G rate:

• A $500,000 term policy costing $2,400 a year at age 55 might convert at age 68 to a guaranteed universal life policy in the $22,000 to $32,000 annual range, depending on class and the guarantee period selected.
• Converting only $200,000 of that same face amount cuts the new premium roughly proportionally, to something in the $9,000 to $13,000 range.

Those are illustrative brackets, not quotes. Get real numbers from the carrier. But the shape of the arithmetic is what matters: partial conversion is the tool almost nobody asks for, and it is frequently what makes the whole path viable. You do not need to convert $750,000 to have a marketable asset; you need to convert enough face amount to clear a provider’s minimum, which practically means at least $100,000 and realistically more.

Sequence it correctly. Get the conversion quote first, then find out whether the converted policy would actually attract bids, then convert. Converting before you know there is a market commits you to a large premium with nothing on the other side. The comparison on life settlement versus term conversion lays out both directions.

The one case where uncoverted term genuinely has value

If the insured has a terminal or severely limiting diagnosis and a projected life expectancy that falls comfortably inside the remaining level period, a viatical settlement can sometimes be arranged on term coverage without any conversion at all. The buyer’s projected claim date arrives before the policy would expire, so the expiration risk that kills ordinary term deals is not present.

This is a distinct market with distinct rules. Viatical settlement providers and brokers are licensed separately in most states, the pricing is driven by a much shorter life expectancy, and the tax treatment is different: under Internal Revenue Code section 101(g), amounts received by a terminally ill insured who meets the statutory definition — generally a physician’s certification of a life expectancy of 24 months or less — can be excluded from gross income. A conventional life settlement receives no such exclusion; those proceeds are taxed in layers.

The practical filter: how many years of level premium remain, and what does the medical documentation actually show? A policy with eleven years remaining and a two-year life expectancy is workable. A policy with eighteen months remaining is not, no matter what the diagnosis is. Our pages on what a viatical settlement is and selling a policy after a terminal diagnosis go through the eligibility standards and the documentation.

F&G’s corporate chain, and getting a records request answered

Old blocks are serviced quietly, and the harder your policy is to find, the more the corporate history matters. The confirmed sequence:

• 1959: Fidelity & Guaranty Life Insurance Company incorporated under Maryland law.
• 1960: Business commenced; the first product offered was traditional term life insurance.
• 2013: Headquarters relocated to Des Moines, Iowa, with the company citing lower cost of business and a preference for the same regulator as competitors.
• 2019: Rebranded from Fidelity & Guaranty Life to F&G.
• 2020: Acquisition by Fidelity National Financial, a previously unrelated title insurance and services company, closed.
• December 2022: Returned to public trading through an approximately 15% stock issuance; the business operates today as F&G Annuities & Life, Inc.

When you write, include the policy number, the insured’s full legal name and date of birth, the issue date if you have it, and the exact phrase “policyholder service request — conversion privilege inquiry.” Ask for three things in one letter: a complete certified copy of the policy including all riders and endorsements, written confirmation of the last date to convert, and a conversion premium quote at 100%, 50%, and 25% of the current face amount. Requesting them together avoids three sequential four-week waits.

If nothing arrives in 30 days, file with your own state’s insurance department. A regulatory inquiry from a state department of insurance produces a response measurably faster than a second letter. This is also the moment to check whether you also hold an F&G universal life policy, since households that bought term from an agent in the 1990s frequently bought a permanent contract from the same agent.

Decision sequence

In order, and do not skip forward:

1. Locate the conversion deadline. If it has passed and there is no serious diagnosis, the honest answer is that this policy has no resale value. Decide whether the coverage is still worth its premium and stop there.
2. If the window is open, get the conversion quote at three face amounts. 100%, 50%, and the smallest amount that still clears $100,000.
3. Assess whether a converted policy would draw bids. This depends on the insured’s age, documented health, and the size of the converted face amount. A healthy insured, however old, generally draws none.
4. Only then convert. Never convert speculatively.
5. If health is severely impaired, ask about the viatical path in parallel, since it may not require conversion at all.

If you want help reading the schedule page, send the policy cover page and any conversion correspondence you have. We do not purchase policies, we are not licensed in every state, and on a large share of term files the conclusion we give is that nothing should be sold. That is still worth knowing before a deadline passes. Call (305) 209-7183, or start with our overview of selling a term life policy.

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Frequently Asked Questions

Does Fidelity & Guaranty still sell term life insurance?

As of 2026 we could not confirm a currently marketed F&G retail term product. The company’s shelf today is dominated by fixed indexed annuities, multi-year guaranteed annuities, indexed universal life, and pension buyout business. If you hold an F&G term policy, treat it as an in-force contract from a block the company may no longer be writing. Your contract rights are unaffected either way.

My level period runs to 2033. Does that mean I can convert until 2033?

Usually not. Conversion privileges are commonly cut off by whichever limit arrives first: an attained-age cutoff such as 65 or 70, a policy-year limit such as the first 10 or 15 years, or a fixed number of years before the level period ends. The earliest of those wins, and it is frequently years before the policy itself expires. Read the schedule page rather than assuming.

Do I lose my original health rating when I convert?

No, and that is the point of the privilege. Conversion issues the permanent policy at your original underwriting class with no new medical questions, no exam, and no new contestability period on the converted amount. The premium is calculated at your attained age, which is why the number is much larger than the term premium, but your health since issue is not reconsidered.

Which insurance department should I complain to about an F&G service problem?

File with the insurance department of the state where you live and where the policy was delivered. That department regulates the insurer’s conduct toward you as a resident and is usually the faster route. The Iowa Insurance Division is F&G’s domiciliary regulator, responsible for solvency and market conduct examinations of the company, and is the right venue for company-level concerns.

How much of the face amount do I need to convert for a settlement to be possible?

Practically, enough to clear a provider’s minimum, which for most institutional buyers means at least $100,000 of death benefit and realistically more before competitive bidding occurs. Below that threshold the fixed costs of underwriting, life expectancy reporting, escrow, and legal review consume the economics. Partial conversion is the tool that lets you reach the threshold without committing to the full face.

Will Pine Lake buy my F&G term policy?

No. Pine Lake Life Solutions does not purchase policies and is not licensed in every state. We read documents, explain what the conversion clause actually says, and tell you when the answer is that there is no market. On term files that is the answer more often than not. Send the policy cover page for a free review or call (305) 209-7183.

Related Reading

• Can I Sell A Term Life Insurance Policy
• What Is A Term Conversion Rider
• Life Settlement Vs Term Conversion
• Sell Term Life Policy
• Terminal Illness Sell Policy
• What Is A Viatical Settlement
• What Is A Grace Period
• Sell My Fidelity Guaranty Universal Life Policy
• Sell My Fidelity Guaranty Whole Life Policy

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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.