Yes. You can sell an Oxford Life universal life policy in a life settlement, as long as you and the policy qualify, because the policy is your property and the buyer is purchasing the contract from you. Oxford Life does not have to approve the sale and is not a party to your decision. The company only records the ownership and beneficiary change at the end, the same way it would for any other transfer.
Universal life is the single most common policy type sold in the secondary market, and the reason is arithmetic. Inside a UL contract, the cost of insurance is deducted every month and that cost climbs steeply with age. Policies written in the 1980s through the early 2000s were often illustrated at 8 to 12 percent interest. Most are now crediting at or near their guaranteed minimum, so the cash value that was supposed to carry the policy through the insured’s eighties simply is not there.
This guide covers how UL is valued by buyers, what an in-force illustration will tell you, and one Oxford-specific issue worth checking early: face amount. Pine Lake Life Solutions is not affiliated with, endorsed by, or acting on behalf of Oxford Life Insurance Company. This page is education, not legal, tax or investment advice.
In This Article
- Who Oxford Life Is, and the U-Haul Connection
- Why Universal Life Behaves So Differently From Whole Life
- The In-Force Illustration Is the Single Most Important Document
- One Oxford-Specific Catch: Check Your Face Amount First
- Documents to Gather Before You Start
- The Process and Realistic Timing
- When Selling Makes Sense, and When It Does Not
- Frequently Asked Questions
Who Oxford Life Is, and the U-Haul Connection
Oxford Life Insurance Company is based in Phoenix, Arizona, and has been writing business since the mid-1960s. Its corporate parent is genuinely unusual: Oxford has long been a subsidiary of AMERCO, the holding company behind U-Haul, which renamed itself U-Haul Holding Company in 2022. Confirm the current group structure and the company’s A.M. Best rating directly with Oxford or at ambest.com, as of 2026, before you rely on either.
None of that ownership history affects your right to sell. A settlement buyer underwrites two things: the insured’s life expectancy and the cost of keeping the contract in force. The name on the holding company above the insurer does not enter the math. What does matter is that Oxford’s retail book leans heavily toward annuities, Medicare supplement products and final expense life, which shapes the face amounts you are likely to be holding.
Why Universal Life Behaves So Differently From Whole Life
Whole life comes with a guaranteed premium and a guaranteed cash value schedule. Universal life does not. UL is a flexible-premium contract: you pay into an account value, the insurer credits interest, and each month it subtracts a cost of insurance charge plus expense charges. As long as the account value covers those charges, the policy stays in force. When it stops covering them, the policy lapses, and everything you paid in over decades ends.
That structure is exactly why buyers like UL. Because there is usually little cash value left in an older, underfunded contract, surrendering it returns very little. A settlement is measured against that small number, not against the death benefit, so a qualifying UL policy can produce a payment many times what the carrier would hand you for surrendering it. Compare the two paths side by side in our guide to a life settlement versus surrender.
The In-Force Illustration Is the Single Most Important Document
Ask Oxford Life’s policy service center for an in-force illustration, and ask for it two ways: one run at current assumptions and one run at guaranteed assumptions. The current-assumption version shows what happens if the company keeps crediting today’s interest rate and charging today’s cost of insurance. The guaranteed version shows the worst case the contract permits. The gap between those two lapse dates is usually a shock.
Read the year in which the account value hits zero. That is your policy’s expiration date under those assumptions, and it is the number a buyer’s pricing model cares about most. Also request an illustration showing the premium required to carry the policy to age 100 or to maturity. If you have never seen one of these before, our explainer on what an in-force illustration is walks through each column.
| Line on the In-Force Illustration | What It Tells You | Why a Buyer Cares |
|---|---|---|
| Account value by year | How much money is left inside the policy | Predicts when charges start eating the policy |
| Cash surrender value | What Oxford Life would pay you today | The number any offer has to beat |
| Year account value reaches zero | The lapse date under those assumptions | Sets how long premiums must be paid |
| Premium to carry to age 100 | The true annual cost of keeping it | Directly reduces what a buyer can pay |
| Outstanding loan balance | What is owed against the policy | Comes off the proceeds at closing |
One Oxford-Specific Catch: Check Your Face Amount First
Oxford Life’s retail life business has historically centered on final expense and simplified-issue coverage, where face amounts of $10,000 to $50,000 are typical. Those policies are almost never sellable. The secondary market runs on fixed transaction costs, including medical record retrieval, life expectancy reports, escrow and legal review, and those costs do not shrink just because the policy is small. Below roughly $100,000 of death benefit, the economics stop working for everyone involved.
So before you spend any time on paperwork, look at the declarations page and find the face amount. If it reads $100,000 or more, a review is worth doing. If it reads $25,000, be honest with yourself and look at alternatives instead: a reduced paid-up option, an accelerated death benefit rider if you have a qualifying illness, or simply keeping a small policy that is doing exactly what it was bought to do.
Documents to Gather Before You Start
For a first look, you only need the policy cover page. That is the front page showing the insurer name, the policy number, the face amount, the issue date and the insured. Send that and a specialist can tell you quickly whether the policy is a realistic candidate.
If it is, the file gets built out with: your most recent annual statement, showing current account value, surrender value and any loan balance; the in-force illustration described above; a copy of the full contract including riders; and a HIPAA authorization so that life expectancy underwriters can review medical records. Keep any authorization you sign specific and revocable. Read what policies qualify before you gather anything else.
The Process and Realistic Timing
A settlement is not a same-week transaction. Plan on roughly 60 to 120 days from the day you apply to the day money lands in your account, and understand where the time goes. The free review takes days. Document gathering, particularly medical records from multiple physicians, takes two to six weeks. Life expectancy reports come back after that. Offers, contracts and the carrier’s processing of the change of ownership take several more weeks.
Two guardrails: your funds should sit with an independent escrow agent until Oxford Life confirms the ownership change in writing, and most states give you a rescission window after closing during which you can unwind the sale by returning the money. Ask what your state’s window is before you sign anything.
When Selling Makes Sense, and When It Does Not
Selling tends to make sense when the coverage is no longer needed, when the premium has become a burden, when the in-force illustration shows the policy lapsing during the insured’s lifetime anyway, or when cash is needed now for care costs. Under those conditions, a settlement converts a wasting asset into money you can use.
It does not make sense when heirs still depend on the full death benefit and premiums are comfortably affordable, or when the policy is small enough that surrender or a paid-up option is simply cleaner. Our page on whether a life settlement is worth it lays out the trade-offs. To find out where your policy lands, send the cover page for a free review or call (305) 209-7183.
Frequently Asked Questions
Does Oxford Life have to approve the sale of my universal life policy?
No. The policy is your property and the buyer purchases the contract from you. Oxford Life is not a party to the decision and its permission is not required. The company’s only role is to record the new owner and beneficiary once the transaction closes.
Is Oxford Life really connected to U-Haul?
Yes, through corporate ownership. Oxford Life Insurance Company has long been a subsidiary of AMERCO, the holding company behind U-Haul, which renamed itself U-Haul Holding Company in 2022. Confirm the current structure with the carrier as of 2026. It has no effect on your ability to sell the policy.
My Oxford Life policy is $25,000. Can I sell it?
Almost certainly not. The secondary market generally works with death benefits of $100,000 or more because the fixed costs of a transaction do not shrink for small policies. Look instead at a reduced paid-up option, an accelerated death benefit rider if you qualify, or simply keeping the policy.
How much could a universal life settlement pay?
The federal GAO study of the market (GAO-10-775) found sellers typically received roughly 10 to 35 percent of face value, on the order of four to eight times cash surrender value. Your own number depends on age, health, the premium required and the policy’s remaining cash value.
How do I get an in-force illustration from Oxford Life?
Call the policy service number on your annual statement and request an in-force illustration at both current and guaranteed assumptions. Ask for it in writing. Turnaround is commonly one to three weeks, so request it early rather than at the end of the process.
Will selling the policy affect my Medicaid eligibility?
It can. Proceeds are a countable asset and the timing of receipt matters for spend-down planning. Rules vary by state and change over time. Talk to an elder law attorney or benefits counselor before you complete a sale so the money arrives in a way that fits your plan.
Is the money I receive taxable?
Part of it may be. In general, proceeds up to your cost basis are treated one way and amounts above it another, and chronically or terminally ill sellers may be treated differently still. This page is not tax advice. Have a CPA run the numbers for your situation before you sign.
What do I send to start a free review?
Just the policy cover page showing the insurer, policy number, face amount and issue date. That is enough to tell you whether the policy is a realistic candidate. There is no cost and no obligation, and you can call (305) 209-7183 with questions first.
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Related Reading
- What Is An In Force Illustration
- Life Settlement Vs Surrender
- What Policies Qualify For Life Settlement
- Is A Life Settlement Worth It
- Sell My Oxford Life Guaranteed Universal Policy
- Sell My Oxford Life 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.