Yes, you can sell a Global Atlantic universal life policy in a life settlement, including policies serviced by its Forethought and Accordia companies, and the carrier’s consent is not required. Universal life is the most frequently settled product in the secondary market, and the reason is structural. Monthly cost-of-insurance charges are deducted from the account value and climb with the insured’s age, so a policy that was comfortable at 60 can become unaffordable at 80. That is usually the moment an owner starts asking what the contract is worth to a buyer.
If your policy came from Global Atlantic, expect to spend a little time establishing who actually holds it. Global Atlantic Financial Group originated within Goldman Sachs before becoming independent, and the investment firm KKR took a majority stake and then completed its acquisition of the remainder of the business in 2024. Its individual life operation was assembled largely through acquisition: Forethought Life Insurance Company, known historically for preneed and final expense coverage, and Accordia Life and Annuity Company, which assumed a large block of individual life policies originally issued by Aviva USA. Administration of acquired blocks has moved between platforms over the years, so verify the current servicing company, the A.M. Best rating, and the service phone number directly with the carrier in 2026.
This page explains how universal life is priced by buyers, why the in-force illustration is the document that decides everything, and what to do if a lapse notice has already arrived. Pine Lake Life Solutions is not affiliated with Global Atlantic, Forethought, Accordia, or KKR. This is education, not legal, tax, or investment advice.
In This Article
- Your Right to Sell Comes From the Courts, Not the Carrier
- Find Out Which Platform Administers Your Policy
- Cost of Insurance and the Lapse Spiral
- The In-Force Illustration Decides the Conversation
- What Determines the Offer
- Documents to Gather
- If a Lapse Notice Has Already Arrived
- Who Qualifies, and How to Begin
- Frequently Asked Questions
Your Right to Sell Comes From the Courts, Not the Carrier
The Supreme Court held in Grigsby v. Russell in 1911 that a life insurance policy is transferable personal property. Nothing about a policy changing companies, being reinsured, or moving to a new administrator alters that. A buyer contracts with you, not with the insurer.
The servicing company handles only the recording. When the purchase agreement is signed and funds are placed with an independent escrow agent, a change of ownership or absolute assignment plus a beneficiary change go to the service center. It records them, confirms in writing, and escrow releases your payment. Request the current forms from the number on your premium notice, and ask specifically whether the administrator requires notarization or a signature guarantee as of 2026.
Find Out Which Platform Administers Your Policy
Owners of policies inside acquired blocks frequently receive statements from a company they never bought insurance from. If your original contract says Aviva, Indianapolis Life, AmerUs, or another predecessor name and your statements now carry a different letterhead, that is the acquisition history showing through rather than a mistake. Administration of large acquired blocks has also shifted between service platforms over time, which is why some policyholders have had more than one service phone number over the years.
Take ten minutes and pin it down. Call the number on your most recent statement and confirm three things: which entity currently administers the policy, the mailing address and department for change-of-ownership forms, and how to request an in-force illustration. If your file is old, also ask them to confirm the death benefit currently in force and any rider still attached. Getting this right up front prevents weeks of delay later.
Cost of Insurance and the Lapse Spiral
Universal life takes your premium, deducts monthly charges, and credits interest on what is left. The dominant charge is the cost of insurance, computed on the net amount at risk, which is the death benefit minus the account value, times a per-thousand rate that rises with attained age. Early on the rate is small and the math is invisible. Later it is neither.
The spiral works like this. Account value falls, so the net amount at risk rises, so the monthly charge rises, so the account value falls faster. Once it starts, the premium needed to keep the policy in force can multiply, and many owners find out only when a lapse warning arrives in the mail. Letting the policy lapse means decades of premiums produce nothing at all, which is precisely the scenario a settlement exists to prevent.
The In-Force Illustration Decides the Conversation
Ask the servicing company for an in-force illustration on your existing policy, and be specific. You want one run at current charges and current crediting, and one at guaranteed maximum charges and the guaranteed minimum interest rate. Ask each to solve for the minimum premium required to carry coverage to age 95 and to age 100, and ask for a run showing when the policy lapses if you stop paying entirely.
Those runs tell you three things at once: what the policy costs to keep, what the worst permitted case looks like, and how much time you have. Buyers underwrite the guaranteed run because non-guaranteed elements can move against them. The illustration is normally free and takes a few business days, and requesting it on day one is the single most effective thing you can do to keep a transaction on schedule.
| Step | What Happens | Typical Time |
|---|---|---|
| Free policy review | Cover page reviewed for basic fit | A few business days |
| Application and authorizations | HIPAA and carrier authorization signed | 1 to 2 weeks |
| Records and life expectancy | Medical records ordered, estimates commissioned | 3 to 8 weeks, the usual bottleneck |
| Written offer | Gross and net figures presented | 1 to 2 weeks |
| Contracts and escrow | Funds placed with an independent escrow agent | 1 to 2 weeks |
| Ownership change and funding | Carrier records transfer, escrow releases payment | 2 to 6 weeks, then a rescission window in most states |
What Determines the Offer
Four variables drive the price a buyer will pay: the insured’s estimated life expectancy, the death benefit, the annual cost of carrying the policy, and the current cash value. Life expectancy dominates, which is why the buyer’s underwriter orders medical records with your written authorization and commissions estimates from independent life-expectancy firms.
Universal life often shows a strong result relative to surrender value because, on older policies, charges have already eroded the account value while the death benefit remains intact. Market-wide, sellers have generally received in the range of 10 to 35 percent of face value, and the federal GAO study GAO-10-775 found settlements paying roughly four to eight times cash surrender value. Those are ranges across many transactions. Some policies draw multiple competing offers and some draw none.
Documents to Gather
Start with the policy cover page or specifications page listing the issuing company, policy number, face amount, issue date, and insured. That one page is enough for a free, no-obligation policy review.
If it advances, collect: the most recent annual statement with account value, surrender value, and the year’s monthly deductions; the in-force illustration at current and guaranteed assumptions; a current loan payoff quote if a loan exists; and the change-of-ownership packet from the correct administrator. If riders are attached, ask what happens to each on a change of ownership, since some riders terminate. Medical records are ordered later by the buyer’s underwriter under your HIPAA authorization.
If a Lapse Notice Has Already Arrived
Do not ignore it, and do not assume it is too late. A policy must remain in force through closing, so a pending lapse becomes a scheduling problem rather than an automatic disqualifier. Call the servicing company and ask for the exact date coverage would terminate, the grace period end date, and the minimum payment required to keep the policy active for the next 60 to 90 days.
Then get a review started immediately rather than waiting. If the policy has already lapsed, ask about reinstatement: many contracts permit reinstatement within a stated period, though it usually requires evidence of insurability and payment of back premiums with interest, and evidence of insurability is exactly what an insured in poor health may not be able to provide. The window is real but narrow, so treat this as time-sensitive. Call (305) 209-7183 if you are working against a grace period.
Who Qualifies, and How to Begin
The common profile is an insured around 65 or older, or younger with meaningful health impairments, a death benefit of $100,000 or more, and a policy past its contestability period. Loans reduce net proceeds dollar for dollar. Policies that remain affordable and genuinely needed are usually better kept, and reducing the death benefit is sometimes a cheaper fix than any sale.
Send the policy cover page for a free review with no obligation. For other Global Atlantic products, see our guides to selling a Global Atlantic whole life policy or a Global Atlantic term life policy, and read what policies qualify for the full screening criteria.
Frequently Asked Questions
Can I sell a universal life policy that Global Atlantic acquired from another insurer?
Yes. Grigsby v. Russell, the 1911 Supreme Court decision, makes a life insurance policy transferable property, and an acquisition or reinsurance transaction does not change your ownership rights. You simply need to identify the company that services the policy today so paperwork goes to the right place.
My contract names a company I have never heard of. Is my policy still valid?
Almost certainly. Global Atlantic built its individual life business substantially through acquisition, including the Accordia block of policies originally issued by Aviva USA, so predecessor names appear on many contracts. Call the number on your most recent statement to confirm who administers the policy now.
Why does my universal life premium keep rising?
Flexible premium does not mean fixed cost. Cost of insurance is charged monthly on the net amount at risk and rises with the insured’s age. As the account value declines, that charge grows, which is why older universal life policies often need far larger payments to stay in force.
What in-force illustration should I request?
Ask for one run at current charges and crediting and one at guaranteed maximum charges with minimum crediting, each solving for the premium to carry coverage to age 95 and age 100, plus a run showing the lapse date if you stop paying. Buyers underwrite the guaranteed run. It is usually free.
My policy is in its grace period. Is it too late to sell?
Not necessarily, but it is urgent. The policy must remain in force through closing, so ask the servicing company for the exact termination date and the minimum payment that keeps coverage active for the next 60 to 90 days, then start a review immediately.
What if the policy already lapsed?
Many contracts allow reinstatement within a stated period, but it usually requires evidence of insurability plus back premiums with interest. An insured in poor health may not be able to satisfy the health requirement. Ask the servicing company for the reinstatement rules and deadline in writing.
How much might my policy be worth?
It depends on age, health, death benefit, and cost to carry. Across the market sellers have generally received in the range of 10 to 35 percent of face value, and the GAO study GAO-10-775 found settlements paying roughly four to eight times cash surrender value. A free review is the only way to find out where a specific policy falls.
How do I get started?
Send the policy cover page showing the insurer, policy number, face amount, and issue date for a free, no-obligation review. If you have a deadline approaching, call (305) 209-7183 instead of waiting.
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Related Reading
- What Policies Qualify For Life Settlement
- How It Works Policy Options
- Life Settlement Vs Surrender
- Education Center
- Sell My Global Atlantic Whole Life Policy
- Sell My Global Atlantic Term 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.