Yes — a Knights of Columbus term certificate can be sold, but almost always only after it is converted to permanent coverage first. Any carrier’s policy can be sold if the policyholder and the policy qualify; the buyer purchases the contract from the owner and the issuing organization’s permission is not required. Term is the exception that proves the rule, because a term certificate with no cash value and a fast-approaching expiry has nothing for a buyer to hold.
What makes term sellable is the conversion privilege — the contractual right to exchange your term coverage for a permanent certificate without new medical underwriting. If that right is still open, you may be holding a genuinely valuable asset, especially if your health has declined. If it has expired, the term is what it is: coverage until the level period ends, and then nothing.
Conversion deadlines expire silently. Nobody calls. This page is built around finding your deadline today. Note also that the Knights of Columbus is a Catholic fraternal benefit society whose insurance is a benefit of membership, and fraternal certificates can carry membership-contingent provisions affecting a change of ownership — verify in writing whether an absolute assignment to a non-member institutional owner is permitted under your certificate and the current bylaws as of 2026. Pine Lake Life Solutions is not affiliated with, endorsed by, or acting on behalf of the Knights of Columbus.
In This Article
Find Your Conversion Deadline Today
Call the Order’s service center and ask exactly this: ‘What is the last date I can convert this term certificate, what permanent products is it convertible into, and is any evidence of insurability required?’ Ask for the answer in writing, referencing your certificate number.
Conversion deadlines are written one of three ways, and yours is one of them:
- Age-based — convertible until the insured reaches a stated age. Common cutoffs sit in the 65 to 70 range, but the number is set by your contract, not by a rule of thumb.
- Duration-based — convertible during a set number of policy years from issue, or until the end of the level premium period.
- Whichever comes first — the most common construction, and the one that catches people out.
There is no notification requirement in most contracts. The right simply lapses. If you are within a year of any plausible deadline, treat this as time-sensitive.
Why Term Alone Cannot Be Sold
A settlement buyer is purchasing a future death benefit and paying premiums to keep the contract alive until it pays. Term coverage breaks that model in two ways:
- It has no cash value. There is nothing to fall back on and nothing to borrow against.
- It expires. After the level period, premiums typically escalate steeply each year, and coverage ends at the contract’s expiry age regardless. A buyer paying to hold a term certificate is buying a race against a clock that usually runs out first.
There is a narrow exception. If the insured has a serious health impairment and life expectancy is short relative to the remaining level term period, a term certificate can occasionally be purchased as-is. That is uncommon, and it is not something to plan around.
The normal path is: convert to permanent coverage, then sell the permanent certificate. See what policies qualify for the general screening rules.
How Conversion Actually Works
Conversion is a contractual right, not a new application. The important features:
- No new medical underwriting. This is the entire point. Health that would make you uninsurable today does not block a conversion.
- Your original rate class carries over. If you were issued at a preferred class years ago, that class generally follows you into the permanent certificate.
- Pricing is at attained age. The permanent premium is based on how old the insured is now, so it will be substantially higher than the term premium. Expect a real jump.
- You may convert part of it. Many contracts allow partial conversion, letting you convert only the portion you intend to keep or sell.
- Product choice is limited. You can generally convert only into the permanent products the issuer designates for conversion, not into anything on the shelf.
Ask which permanent products are available for conversion before you commit. Whether the resulting certificate is whole life, universal life, or a guaranteed universal life design materially affects how a buyer would price it.
| Your Situation | Is a Settlement Possible? | Next Step |
|---|---|---|
| Conversion privilege still open, insured is a senior | Often yes, after converting | Get screened, then convert before the deadline |
| Conversion open, insured in good health and younger | Usually no | Keep the coverage; revisit later |
| Conversion expired, level term has years left | Rarely, and only with serious impairment | Free review costs nothing — ask |
| Conversion expired, level term nearly over | No | Decide whether to keep, replace, or let it end |
| Already converted to permanent coverage | Yes, if you and the policy qualify | Request an in-force illustration |
Sequence Matters: Get Screened Before You Convert
The mistake to avoid is converting first and asking questions later. Conversion premiums at attained age can be large, and you do not want to fund a conversion that produces a certificate no buyer would want.
The better order of operations:
- Confirm the conversion deadline and the available permanent products, in writing.
- Send the term certificate cover page for a free review — issuer, certificate number, face amount, issue date.
- Find out whether, and roughly on what terms, the resulting permanent certificate would be a realistic candidate.
- Confirm the fraternal assignment question in writing.
- Then convert, with the deadline still comfortably ahead of you.
None of that costs anything, and it usually takes days rather than weeks. If your deadline is close, call (305) 209-7183 rather than waiting on email.
The Fraternal Layer
The Knights of Columbus was founded in 1882 in New Haven, Connecticut by Father Michael J. McGivney, and it operates as a fraternal benefit society: member-owned, no shareholders, governed through its own laws and bylaws alongside state insurance regulation, with insurance available to members and their eligible family members.
Because insurance is a benefit of membership rather than a retail product, some fraternal certificates include provisions tied to membership that can affect who may own the contract. That is why the assignment question belongs at the front of your process, not the back. Ask the service center whether an absolute assignment of ownership to a third-party institutional owner who is not a member is permitted under your certificate form, and get it in writing.
This is not a knock on the Order. It is simply a structural difference that a term owner planning a conversion-then-sale should resolve before spending money on conversion premiums.
What Happens If the Deadline Has Already Passed
If conversion is closed, you still have options worth knowing:
- Ride out the level period. If the premium is affordable and the coverage still serves a purpose, keeping it is perfectly reasonable.
- Check for a return-of-premium rider, if your certificate has one. Some term designs refund premiums at the end of the level term.
- Consider whether an impaired-health sale is possible. Rare, but if life expectancy is genuinely short relative to the remaining level term, a review costs nothing.
- Look at other policies you own. Many people hold a permanent certificate they have forgotten about. That one may be the sellable asset.
An honest answer sometimes is ‘this one cannot be sold.’ You should expect to be told that plainly rather than strung along.
If You Do Convert, Here Is the Settlement Timeline
Once you own a permanent certificate, the process is the same as for any policy:
- Free review — days. Cover page only.
- Documentation — 2 to 6 weeks. In-force illustration from the carrier, HIPAA authorization, medical records, independent life-expectancy assessments.
- Offers — in writing, with gross and net figures if a broker is involved.
- Closing — 3 to 6 weeks. Independent escrow holds funds; ownership transfers; the insurer confirms; escrow pays. Most states then allow a rescission window.
Realistically: 60 to 120 days. Buyers generally need a death benefit of $100,000 or more. Market ranges from the GAO’s study (GAO-10-775) put typical proceeds at about 10% to 35% of face value.
This page is educational only. It is not legal, tax, or investment advice, and it is not an offer to purchase any policy. Settlement proceeds may be taxable and can affect eligibility for needs-based programs — talk to a CPA, and to an elder-law attorney if public benefits are involved.
Frequently Asked Questions
Can I sell term life insurance without converting it?
Only rarely. Term has no cash value and expires, so buyers generally cannot make the economics work unless the insured has a serious health impairment and life expectancy is short relative to the remaining level period. The normal route is to convert to permanent coverage first and then sell that certificate.
How do I find my conversion deadline?
Call the issuer’s service center and ask for the last date you may convert, which permanent products are available, and whether any evidence of insurability is required. Ask for the answer in writing with your certificate number on it. Deadlines are usually set by attained age, by policy duration, or by whichever comes first.
Will I need a medical exam to convert?
Generally no. The conversion privilege exists precisely so you can obtain permanent coverage without proving insurability again, and your original rate class usually carries over. Confirm the terms for your specific certificate, since features vary by contract.
Why does the premium jump so much after conversion?
The permanent certificate is priced at the insured’s attained age rather than the age at original issue, so a conversion in your late sixties or seventies costs far more than the term premium did. That premium increase is often what prompts owners to consider a settlement in the first place.
Should I convert before or after getting a review?
Get the review first. A free screening tells you whether the resulting permanent certificate would be a realistic candidate before you spend money on conversion premiums. Just leave enough runway to convert before the deadline.
Does the Knights of Columbus have to approve a sale?
Permission is not required to sell a contract you own, because the buyer purchases it from you. However, fraternal certificates can carry membership-contingent provisions, so confirm in writing whether an absolute assignment of ownership to a non-member institutional owner is permitted under your certificate as of 2026.
What size policy do buyers look for?
Generally a death benefit of $100,000 or more. Below that, the cost of underwriting, life-expectancy reports, escrow, and closing usually exceeds what the transaction is worth to anyone. Smaller certificates are better handled through other options.
How long does everything take?
Conversion itself can be completed in a few weeks once forms are submitted. The settlement that follows typically runs 60 to 120 days from application to funded payment, with documentation and life-expectancy reports taking the longest.
Find out what your policy is worth — free, confidential, no obligation.
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Related Reading
- What Policies Qualify For Life Settlement
- What Is An In Force Illustration
- Is A Life Settlement Worth It
- How It Works Policy Options
- Sell My Knights Of Columbus Whole Life Policy
- Sell My Knights Of Columbus Universal 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.