Yes — you can sell a Securian (Minnesota Life) universal life policy in a life settlement, and universal life is the single most-settled policy type in the secondary market. The policy is your personal property; Securian’s consent is not required, and the buyer purchases the contract directly from you. UL dominates the settlement market for a structural reason: cost-of-insurance charges inside UL policies climb steeply at advanced ages, and on older blocks of business those rising charges can push required premiums up sharply — right when many owners least want to pay them. A policy that is becoming expensive to keep is often exactly the policy a buyer will pay real money for.
A quick identity check first: Securian Financial issues individual policies through Minnesota Life Insurance Company, and it is also one of the largest group life carriers in the country (verify 2026 rank). If your coverage is a workplace certificate rather than an individual policy, it generally cannot be sold until converted to an individual policy — usually within about 31 days of leaving the employer. This page addresses individual Minnesota Life UL contracts.
Below: why UL premiums rise, how buyers price a UL policy, the alternatives, and the documents to gather. Pine Lake Life Solutions is not affiliated with Securian Financial or Minnesota Life.
In This Article
- Why Your Securian UL Premium Keeps Going Up
- Why UL Is the Settlement Market’s Favorite Policy Type
- Your Options Ranked Before the Next Premium Notice
- What a Buyer Prices on a Minnesota Life UL
- Documents to Gather and the 60–120 Day Timeline
- Red Flags and Owner Protections
- Next Steps
- Frequently Asked Questions
Why Your Securian UL Premium Keeps Going Up
Universal life separates the insurance cost from the funding. Each month, Minnesota Life deducts cost-of-insurance (COI) and administrative charges from your policy’s account value; your premiums plus credited interest refill the account. COI rates are age-based and rise every year — slowly in your 60s, steeply in your 80s and 90s. If interest crediting has been lower than the original illustration assumed (as it has been for much of the past two decades across the industry), the account drains faster than projected.
The result many owners see in their 70s and 80s: a letter saying the policy will lapse without significantly higher premiums. This is not unique to Securian — it is the arithmetic of the product — but it is the moment thousands of UL owners each year discover the settlement market. Before writing bigger checks or letting the policy go, find out what the policy is worth to a buyer. As of 2026, that comparison costs nothing to run.
Why UL Is the Settlement Market’s Favorite Policy Type
Institutional buyers settle more universal life than any other product, for three reasons. First, UL face amounts tend to be large — estate-planning-sized policies of $250,000 and up are common. Second, UL’s flexible-premium design lets a buyer fund the policy efficiently, paying only what is needed to keep it in force. Third, the same rising-COI pressure that squeezes owners creates motivated sellers, so the buying infrastructure is built around UL.
Reference economics for qualifying policies, as of 2026: roughly 10% to 35% of face value, about 4 to 8 times cash surrender value on average, per the federal GAO study (GAO-10-775). A UL policy whose account value has run low can produce an offer that is many multiples of its surrender value, because the buyer is pricing the death benefit, not your remaining account. Compare your own floor at how cash surrender value works.
Your Options Ranked Before the Next Premium Notice
Selling is one of several exits — rank them against your situation:
- Keep and refund. Ask Minnesota Life for an in-force illustration showing the premium that carries the policy to age 95 or 100 at current rates. If it is affordable and heirs need the coverage, keeping may win.
- Reduce the face amount. A lower death benefit cuts COI charges, sometimes enough to stabilize the policy at your current premium.
- Policy loan or withdrawal. Available if account value exists, but both accelerate the drain — use with care near advanced ages.
- Sell (life settlement). Lump sum now, premiums off your books; strongest when coverage is unneeded or unaffordable.
- Retained death benefit. Keep part of the death benefit with no further premiums — see how the policy options work.
- Surrender or lapse. The floor and the zero, respectively. Never lapse a six-figure UL without a market check.
The decision framework, with worked examples, is at life settlement vs. surrender.
| UL Situation | Typical Owner Instinct | Usually Smarter Move |
|---|---|---|
| Premium notice demands sharply higher payments | Pay up or walk away | Get minimum-funding illustration + free settlement review before deciding |
| Account value nearly exhausted, insured 75+ | Let it lapse | Market check first — buyers price the death benefit, not the account |
| Coverage no longer needed for heirs | Surrender for the account value | Compare settlement offers; typically 4–8x surrender value for qualifying cases (GAO-10-775) |
| Policy has a large outstanding loan | Assume it’s unsellable | Review anyway — loans reduce offers but don’t always eliminate them |
| Heirs still depend on full coverage, premium affordable | Sell for cash | Keep the policy — settlement is for unneeded or unaffordable coverage |
What a Buyer Prices on a Minnesota Life UL
Three inputs drive every offer: the death benefit, the insured’s estimated life expectancy, and the minimum future premiums required to keep the policy in force. For UL, buyers request in-force illustrations from Minnesota Life at minimum-funding assumptions to compute that third input precisely.
Factors that strengthen an offer: insured age about 70+, health decline since the policy was issued, face amount of $250,000 or more (though Pine Lake reviews policies from $100,000 up), low required funding relative to face, and no or small policy loans. Factors that soften one: heavy loans (deducted from any offer dollar for dollar), very high COI drag, or a face amount under $100,000, where buyer interest thins. The screen is detailed at what policies qualify for a life settlement.
Documents to Gather and the 60–120 Day Timeline
Step one requires a single page: the policy cover page showing insurer, policy number, face amount, and issue date. Pine Lake’s free review starts there. A marketable policy’s full file then adds:
- An in-force illustration from Minnesota Life at minimum funding — the pricing backbone.
- Your latest annual statement — account value, loans, recent deductions, premium history.
- A lapse or grace-period notice, if you have received one; it changes the urgency, not necessarily the outcome.
From review to funded closing, expect roughly 60 to 120 days: documentation and life-expectancy estimates, written offers, contracts with independent escrow, then Minnesota Life records the new owner and escrow releases your payment. Most states provide a rescission period afterward. Keep the policy in force throughout — if cash is short, say so at the review stage; grace-period timing is manageable when known early.
Red Flags and Owner Protections
The UL settlement market is mature and regulated in most states, but the basics still protect you: get every offer in writing; if a broker shops the policy, require gross and net-of-commission numbers; never transfer ownership before your funds sit in independent escrow; and sign only HIPAA releases that are specific and revocable. Your state insurance department can verify any buyer’s or broker’s license.
One UL-specific caution: do not stop premiums the moment an offer appears. The policy must stay in force through closing, and a lapse mid-transaction can void the deal entirely. Similarly, avoid taking new loans or withdrawals during the process — they change what the buyer is pricing and will reprice the offer. If you also own Securian coverage of another type, the analysis differs — see our guides to selling a Securian whole life policy and a Securian GUL policy.
Next Steps
1) Request an in-force illustration from Minnesota Life at your current premium and at minimum funding — it tells you the true cost of keeping the policy. 2) Send the policy cover page to Pine Lake for a free, no-obligation review, or call (305) 209-7183. 3) Make no policy changes — no lapses, loans, or face reductions — until the review is back. An hour of paperwork now can turn a policy you were about to abandon into a meaningful lump sum for care costs or a Medicaid spend-down.
Frequently Asked Questions
Can I sell my Securian universal life policy without the company’s approval?
Yes. The policy is your personal property and may be sold to a licensed settlement buyer without Securian’s or Minnesota Life’s permission. The carrier’s only role is recording the ownership and beneficiary change at closing.
Why did my Minnesota Life UL premium suddenly jump?
Universal life deducts age-based cost-of-insurance charges from your account every month, and those rates climb steeply at older ages. If interest crediting ran below original projections, the account drains faster and the carrier eventually requires higher premiums to prevent lapse. It is the product’s arithmetic, not something unique to your policy.
Is universal life really the most-sold policy type in settlements?
Yes — UL dominates the settlement market. Its large face amounts, flexible premium funding, and rising-cost pressure on owners make it the product institutional buyers are built around. That depth of demand generally works in a seller’s favor.
My UL’s account value is almost gone. Is the policy still worth anything?
Often, yes — this is the most common settlement scenario. Buyers price the death benefit and the cost of future premiums, not your remaining account value. A UL near exhaustion can bring an offer many times its surrender value. Have it reviewed before the grace period runs out.
How much do UL settlements typically pay?
Standard reference ranges for qualifying policies are 10% to 35% of face value — roughly 4 to 8 times cash surrender value on average, per the federal GAO study GAO-10-775. Age, health, face amount, required future premiums, and any loans determine where an individual offer lands.
Should I keep paying premiums while I explore a sale?
Yes. The policy must remain in force through closing, which takes roughly 60 to 120 days. If paying is genuinely impossible, disclose that at the review stage — grace periods can sometimes be worked with — but a lapsed policy is worth nothing to anyone.
What do I send to start?
Just the policy cover page — insurer, policy number, face amount, issue date. Pine Lake’s review is free and no-obligation, and covers policies with death benefits of $100,000 and up. An in-force illustration from Minnesota Life comes next if the policy is a candidate.
Find out what your policy is worth — free, confidential, no obligation.
A 15-minute educational review covers your eligibility, every alternative, and a realistic view of what each path would net you.
Related Reading
- Life Settlement Vs Surrender
- Cash Surrender Value Life Insurance
- What Policies Qualify For Life Settlement
- How It Works Policy Options
- Sell My Securian Whole Life Policy
- Sell My Securian Guaranteed 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.