Yes, a Global Atlantic term life policy can be sold in a life settlement, but almost always only if it is convertible and the conversion window is still open. Term insurance has no cash value and an expiration date, so on its own there is nothing for a buyer to hold. The conversion privilege written into most term contracts is the bridge: it lets the term coverage become a permanent policy, without new medical underwriting, and a permanent policy is something a buyer can purchase and carry.
Before anything else, establish who services your policy. Global Atlantic Financial Group began within Goldman Sachs, later became independent, and the investment firm KKR acquired a majority stake before completing its acquisition of the remainder of the business in 2024. Its individual life book was assembled largely by acquisition, including Forethought Life Insurance Company, historically a preneed and final expense carrier, and Accordia Life and Annuity Company, which took on a large block of policies originally issued by Aviva USA. Because acquired blocks change administrators, verify the current servicing company, the A.M. Best rating, and the policyholder phone number with the carrier directly in 2026.
The urgent part of this page is timing. Conversion privileges expire by attained age, by policy year, or by whichever comes first, and once expired they do not come back. If the insured is in their late sixties or older, or the level term period is winding down, read your schedule page today. Pine Lake Life Solutions is not affiliated with Global Atlantic, Forethought, Accordia, or KKR, and nothing here is legal, tax, or investment advice.
In This Article
The Answer Is Yes, With One Condition
The right to sell a policy comes from Grigsby v. Russell, the 1911 Supreme Court decision treating life insurance as transferable personal property. No carrier grants or withholds that right, and no acquisition or block transfer changes it.
The condition on term is economic, not legal. A buyer paying cash today needs coverage that will still be in force decades from now, and level term will not be. So a term settlement generally runs in a set order: confirm convertibility in writing, agree on terms including who funds the conversion premium, exercise the conversion, then transfer ownership of the newly issued permanent policy through escrow. If the contract is not convertible, or the window has closed, the honest answer is usually that a sale is not available.
What to Look For on the Schedule Page
Open the contract to the schedule or specifications page and the list of riders. You are looking for the conversion or exchange provision and, more importantly, its limit. Typical language caps conversion at a stated attained age or at the end of a stated policy year, whichever comes first. Some contracts restrict conversion to a specific permanent product the carrier designates at the time of conversion, which may not be the product you would have chosen.
Then confirm it with a person. Call the servicing company and ask, in these words: is this policy convertible today, what is the final date to convert, which permanent products can it convert into as of 2026, and what would the premium be at the insured’s current age. Ask for the answer in writing. If the policy came out of an acquired block, also confirm that the acquiring company honors the original conversion provision and which of its products satisfy it.
Why the Deadline Is the Whole Ballgame
Health drives the value of a life settlement. A shorter estimated life expectancy means a buyer expects to pay premiums for fewer years, which raises what the buyer will pay today. That is the arithmetic, uncomfortable as it is to state plainly.
The cruel part is the overlap. The insured whose health has declined is often the one who can no longer qualify for new coverage, making the conversion privilege the only path to a permanent policy. And that privilege typically expires in the same stretch of life when it becomes most valuable. When it lapses, the term policy runs to the end of its level period and then either terminates or renews at steeply increasing annual premiums that most families cannot sustain. Years of premiums produce nothing. If the deadline is inside twelve months, treat a review as time-sensitive and call (305) 209-7183.
Return of Premium and Other Term Variations
Not all term is identical. Some contracts include a return-of-premium feature that refunds part or all of premiums paid if the insured survives the level term period. If yours has one, find the schedule showing what percentage is refundable in each policy year, because that amount functions somewhat like a surrender value and becomes part of your comparison. Surrendering for the return-of-premium benefit ends coverage; converting preserves it.
Other variations matter too. Coverage provided by a rider rather than by the base policy may convert under different rules or not at all. A decreasing term policy tied to a mortgage has a shrinking death benefit, which changes what a buyer would pay. And if the policy is owned by a trust or a business rather than by you personally, the owner of record is the party who must sign, so confirm ownership on the carrier’s records before assuming anything.
| Term Feature | What It Means | Effect on a Possible Sale |
|---|---|---|
| Convertible, window open | Can become permanent coverage without new underwriting | A settlement may be possible |
| Convertible, window expired | The privilege has lapsed permanently | A settlement is generally not available |
| Not convertible | No path to permanent coverage | A settlement is generally not available |
| Return of premium feature | Refunds a share of premiums at the end of the level period | Creates a value floor to compare against |
| Decreasing term | Death benefit declines over time | Lower and falling benefit reduces buyer interest |
| Group certificate | Coverage through an employer or association | Conversion window is typically about 31 days after coverage ends |
Group and Employer Term Coverage
If your term insurance came through an employer or association, you likely hold a certificate under a group policy rather than an individually issued contract. Group certificates usually carry a conversion right that must be exercised within a short window after coverage ends, commonly around 31 days from the date employment or membership terminates. That window is far shorter than an individual policy’s conversion period, and missing it generally ends the matter.
If retirement, a layoff, or a reduction in hours is coming, ask the benefits administrator before the last day of coverage for the conversion notice, the exact deadline, and the individual product the certificate converts into. Group conversion premiums tend to be high precisely because no medical underwriting is required, which is what makes them valuable to someone in poor health. Once converted, the resulting permanent policy can be reviewed for a settlement like any other.
Documents to Gather
Send the cover or schedule page first: issuing company, policy number, face amount, issue date, level term period, and insured. That is enough for a free, no-obligation policy review.
Then assemble the term-specific items. The conversion provision language from the contract. Written confirmation from the servicing company of convertibility, the final conversion date, and the eligible products. An illustration of the converted permanent policy at the insured’s current age. The guaranteed renewal premium table showing what the term policy costs each year after the level period ends. And the change-of-ownership packet for the eventual transfer. Medical records come later, ordered by the buyer’s underwriter with your written authorization.
How the Transaction Runs
Free review, then written confirmation of convertibility, then application with HIPAA authorization so records and life-expectancy estimates can be ordered, then a written offer that states clearly who pays the conversion premium, then conversion is exercised, then contracts and independent escrow, then the ownership change on the converted policy and release of funds. Most states provide a rescission window afterward.
Plan on 60 to 120 days, and add time for the carrier to issue the converted contract. Two rules never bend: get the offer in writing with gross and net figures if a broker is involved, and never transfer ownership before funds are in escrow. For the general mechanics, see how the process works.
Who Qualifies, and What to Do Today
Buyers generally look for an insured around 65 or older, or younger with meaningful health conditions, and a death benefit of $100,000 or more. Term adds two hard requirements: the policy must be convertible, and the window must still be open. Fail either and a settlement is usually not possible, though a free review will confirm that quickly and at no cost.
Send the cover page and the conversion provision page for a free review, or call (305) 209-7183 if a deadline is near. If the policy converts, or if you also hold permanent Global Atlantic coverage, see our guides to selling a Global Atlantic universal life policy and a Global Atlantic whole life policy.
Frequently Asked Questions
Is it possible to sell a term life policy at all?
Yes, but generally only when the policy is convertible and the conversion window is still open. Term has no cash value and expires, so buyers normally require conversion to permanent coverage as part of the transaction. Without conversion rights, a settlement is usually not available.
How do I confirm my policy is convertible?
Read the conversion provision on your schedule page, then call the servicing company and get written confirmation of whether it is convertible today, the final date to convert, and which permanent products are eligible as of 2026. If the policy came from an acquired block, confirm the current company honors the original provision.
Will conversion require a medical exam?
Conversion privileges are normally exercisable without new medical underwriting, which is what makes them valuable when health has declined. The premium is set at the insured’s attained age, so it will be much higher than the term premium. Confirm the specific terms with the servicing company.
Who pays the conversion premium in a settlement?
It is negotiable. Some buyers fund the conversion as part of the purchase and some expect the seller to convert first. Whatever is agreed should be stated plainly in the written offer before you sign anything.
What happens when my level term period ends?
Most level term policies continue on an annually renewable basis at premiums recalculated at the insured’s attained age, and those premiums rise steeply. Ask the servicing company for the guaranteed renewal premium table and the final renewal age so you can see the real cost of keeping the coverage.
My term policy has a return of premium feature. Does that change things?
It gives you a value floor to compare against, since a portion of premiums may be refundable at the end of the level period. Taking that refund ends coverage, while converting preserves it. Ask for the schedule showing the refundable percentage in each policy year.
What about term coverage from my employer?
Group certificates typically carry a conversion right that must be used within a short window after coverage ends, commonly around 31 days from termination of employment. Ask the benefits administrator for the notice and deadline in writing before your last day, because that window is easy to miss.
What should I send for a free review?
The cover or schedule page showing the insurer, policy number, face amount, issue date, and term period, plus the conversion provision if you have it. The review is free and carries no obligation. If a conversion deadline is close, call (305) 209-7183 rather than mailing anything.
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Related Reading
- What Policies Qualify For Life Settlement
- How It Works Policy Options
- Education Center
- Life Settlement Vs Surrender
- Sell My Global Atlantic Universal Life Policy
- Sell My Global Atlantic 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.