Yes — you can sell a Global Atlantic (Forethought) indexed universal life policy through a life settlement, because the policy belongs to you and the buyer purchases the contract itself; the carrier’s approval is not part of the decision. The insurer’s only role is administrative: once the sale closes, it records the new owner and beneficiary the same way it would record any other ownership change. What actually decides whether a sale is possible is you and the policy — buyers generally look for insureds in their senior years, a death benefit of $100,000 or more, and a policy that has been in force long past the contestable period.
Global Atlantic owners have a particular reason to double-check who holds their contract. The company grew largely by buying and reinsuring other insurers’ in-force blocks rather than by selling one continuous product line, so the name on your annual statement may not match the name on your original policy jacket. Confirm the servicing company before you do anything else.
This guide walks through how indexed universal life is priced in the secondary market, the gap between your original illustration and your current statement, the documents a buyer will ask for, and how a settlement compares with surrendering. Pine Lake Life Solutions is not affiliated with Global Atlantic, Forethought, or KKR. We provide education and a free policy review — nothing here is legal, tax, or investment advice.
In This Article
- Global Atlantic, Forethought, Accordia — Sorting Out Who Services Your Policy
- Your Original Illustration Is Not a Promise — Read the Annual Statement Instead
- How Indexed Universal Life Is Valued in the Secondary Market
- Documents to Gather Before You Ask for an Offer
- The Change of Ownership Step — What Actually Closes the Sale
- Timeline From First Call to Funded Payment
- Who Qualifies, and What to Do If You Don’t
- Frequently Asked Questions
Global Atlantic, Forethought, Accordia — Sorting Out Who Services Your Policy
Global Atlantic Financial Group was built by combination. Forethought Financial Group — a company whose roots are in preneed and final expense insurance — merged with Global Atlantic in 2014, and Forethought Life Insurance Company remains one of the issuing entities on many contracts. Global Atlantic also acquired Accordia Life and Annuity Company, which took over a large legacy individual life block that traces back to Aviva USA and, before that, to AmerUs and Indianapolis Life. Many people holding what they think of as a “Global Atlantic” indexed universal life policy actually receive their statements from Accordia Life.
On top of that, the group’s ownership changed. KKR, the private investment firm, took a majority stake in Global Atlantic in 2021 and completed its acquisition of the remaining shares in January 2024, making Global Atlantic a wholly owned KKR subsidiary. Verify the current corporate structure, the A.M. Best financial strength rating, and the service phone number directly with the carrier as of 2026 — group structures in this corner of the market change often.
None of this changes your ownership rights. It changes where the paperwork goes. Look at your most recent premium notice or annual statement and note the exact issuing company name and service phone number; that is the entity that will process the change of ownership.
Your Original Illustration Is Not a Promise — Read the Annual Statement Instead
This is the single most useful thing an IUL owner can learn. When the policy was sold, the agent likely showed a hypothetical illustration projecting index credits at some assumed rate year after year. That page was a sales illustration, not a guarantee. The contract itself guarantees only the floor — typically 0% or a small minimum — and gives the insurer the right to adjust the moving parts.
Those moving parts are the cap rate (the maximum credit in a year), the participation rate (what share of the index gain you receive), and the spread or asset charge subtracted before crediting. Carriers can and do lower caps and participation rates on in-force policies within contract limits. Combine a few lower-credit years with cost-of-insurance charges that climb every year as the insured ages, and an account value that was projected to carry the policy to age 100 can instead be heading toward lapse.
So pull the annual statement and compare it to the original illustration. If the current account value is materially below what the illustration projected for this policy year, that gap is the story — and it is often the moment a settlement becomes worth exploring, because a lapsing policy pays nothing at all.
How Indexed Universal Life Is Valued in the Secondary Market
A buyer of an IUL policy is buying a future death benefit and taking on the obligation to keep the policy alive until then. So the math has three inputs: the size of the death benefit, the insured’s life expectancy, and the total premium the buyer will have to pay along the way.
IUL has one feature buyers appreciate: flexibility. Because premiums are not fixed, a buyer can often fund the policy at the minimum needed to keep it in force rather than at the level you were paying. That efficiency can support a stronger offer than a rigid contract with the same death benefit. Working against it are rising cost-of-insurance charges and any outstanding policy loan, which reduces net death benefit and therefore reduces the offer dollar for dollar.
For scale, the federal GAO’s study of the market (GAO-10-775) found sellers typically received roughly 10% to 35% of face value, on the order of 4 to 8 times cash surrender value. Those are ranges from a market study, not a quote on your policy. See settlement versus surrender for how to frame that comparison.
| What the Illustration Showed | What the Contract Actually Guarantees | Why It Matters to a Buyer |
|---|---|---|
| Index credits at an assumed rate every year | A floor only — often 0% or a small minimum | Buyers model current and guaranteed scenarios, not the sales illustration |
| A fixed cap and participation rate | Caps and participation rates the insurer may adjust within contract limits | Lower caps mean higher required premiums to keep the policy alive |
| Level cost of insurance | Charges that rise with the insured’s age | Rising charges can outrun account value and threaten lapse |
| Policy carried to age 100+ | Coverage only as long as value covers charges | A policy heading for lapse pays nothing; a sale converts it to cash |
Documents to Gather Before You Ask for an Offer
Two documents drive an IUL valuation:
- The most recent annual statement. It shows the death benefit, the current account value and surrender value, any loan balance, the premiums paid, and the charges deducted.
- An in-force illustration run at current assumptions. Request it from the servicing company — Accordia Life, Forethought Life, or whichever entity appears on your statement. Ask specifically for an illustration at current (not illustrated) crediting rates and at the guaranteed minimum, showing the minimum premium required to carry the policy to several ages. That pair of scenarios is what a buyer models.
To simply find out whether the policy is a realistic candidate, you need far less: the policy cover page showing the insurer, policy number, face amount, and issue date. That is the starting point for Pine Lake’s free policy review. Later in the process you will be asked for a HIPAA authorization so life expectancy can be estimated from medical records; keep any release you sign specific and revocable.
The Change of Ownership Step — What Actually Closes the Sale
Every life settlement ends with the same mechanical step: an absolute assignment, or change of ownership, filed with the insurer. The buyer becomes the owner and beneficiary of record; you stop paying premiums and receive your lump sum.
The forms are the carrier’s own, and each company has its own version and its own processing queue. Ask the servicing company for its change-of-ownership and change-of-beneficiary forms, whether a signature guarantee or notarization is required, and how long recording typically takes — confirm the current requirements directly with the carrier as of 2026. An experienced buyer handles this paperwork routinely, but the carrier’s turnaround is often what sets the closing date.
Your money should sit with an independent escrow agent until the insurer confirms the recorded change. Never transfer ownership against a promise of later payment. Most states also provide a rescission window after funding, during which you can unwind the sale by returning the proceeds — ask what the window is where you live.
Timeline From First Call to Funded Payment
A realistic schedule looks like this:
- Free review — a few days. Send the cover page; a specialist screens whether the policy is a plausible candidate.
- Documentation — two to four weeks. In-force illustration from the servicing company, medical records, life expectancy estimates.
- Offers. Get every offer in writing. If a broker is in the middle, ask for gross and net-of-commission figures.
- Contracts and escrow. Closing package signed; funds deposited with the escrow agent.
- Ownership change and funding. The insurer records the transfer, escrow releases payment, and the rescission clock starts.
End to end, plan on roughly 60 to 120 days. Policies close faster when the in-force illustration arrives quickly and slower when medical records are scattered across several providers.
Who Qualifies, and What to Do If You Don’t
The strongest candidates share a profile: insured roughly 65 or older, or younger with significant health changes since the policy was issued; death benefit of $100,000 or more; policy in force at least two years; and premiums that have become a real burden. Heavy policy loans, very small face amounts, and policies the family still genuinely needs are the common reasons a sale does not make sense.
If a settlement is not the answer, an IUL owner still has options: reduce the death benefit to lower the cost of insurance, use accumulated value to fund premiums for a period, or surrender for whatever value remains. Read what policies qualify and how cash surrender value works before you decide, or browse the education center. To have someone look at the actual numbers, send the policy cover page or call (305) 209-7183. A related read for owners of similar contracts: selling a Symetra IUL policy.
Frequently Asked Questions
Do I need Global Atlantic’s permission to sell my policy?
No. The policy is your property and the buyer purchases the contract from you. The insurer’s role is limited to recording the change of ownership and beneficiary once the sale closes. That is an administrative step, not an approval.
My statement says Accordia Life, but my policy says something else. Which company holds it?
Global Atlantic acquired Accordia Life and Annuity Company, which services a large legacy individual life block that traces back to Aviva USA and earlier companies. Forethought Life Insurance Company is another issuing entity in the group. The company named on your most recent statement is the one that will process paperwork; confirm it by calling the number printed there.
Is Global Atlantic still an independent company?
KKR took a majority stake in Global Atlantic in 2021 and completed the acquisition of the remaining shares in January 2024, making it a wholly owned subsidiary. Verify the current structure and the A.M. Best financial strength rating with the carrier directly, since ownership in this segment changes frequently.
My IUL is not performing like the illustration. Does that hurt or help a sale?
It usually explains why selling is worth considering. Underperformance means higher premiums are needed to keep the policy in force, and a policy that lapses pays nothing to anyone. A settlement converts a struggling policy into a lump sum today, though the required future premiums do factor into what a buyer will offer.
How much could an indexed universal life policy sell for?
The federal GAO market study (GAO-10-775) found sellers typically received about 10% to 35% of face value, roughly 4 to 8 times cash surrender value. Those are market-wide ranges, not a quote. Your actual offer depends on age, health, death benefit, loans, and the premium a buyer must pay going forward.
What documents should I request from the servicing company?
Ask for an in-force illustration at current charges and crediting rates, plus a second version at guaranteed assumptions, each showing the minimum premium needed to carry the policy to several ages. Pair that with your most recent annual statement. Those documents are what a buyer prices from.
Does an outstanding policy loan stop me from selling?
No, but it reduces the offer. A loan is repaid from the transaction, so it comes off the top of what you receive. Disclose the exact loan balance early so the numbers you are given are realistic.
What is the very first thing I should send?
Just the policy cover page — the first page listing the insurer, policy number, face amount, and issue date. That is enough for a free, no-obligation review, and you can call (305) 209-7183 with questions before sending anything.
Find out what your policy is worth — free, confidential, no obligation.
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Related Reading
- Life Settlement Vs Surrender
- What Policies Qualify For Life Settlement
- Cash Surrender Value Life Insurance
- How It Works Policy Options
- Education Center
- Sell My Symetra Indexed Universal 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.