Yes — a term life policy can be sold, including a Talcott Resolution term policy, as long as you and the policy qualify; the buyer purchases the contract from you and the insurer’s permission is not needed. But term comes with one condition the other policy types do not have: in almost every case the policy must still be convertible to permanent coverage. That right expires, it expires quietly, and once it is gone there is usually nothing to sell.
So the real question is not “can I sell it.” It is “how many days do I have left?” Find your conversion deadline before you do anything else on this page.
Many people holding these policies bought them from a Hartford agent. The Hartford sold its run-off life and annuity business in 2018 and it became Talcott Resolution, which administers legacy contracts and does not sell new retail coverage; Sixth Street later acquired the company (verify current ownership, the service number, and the A.M. Best rating as of 2026). Pine Lake Life Solutions is not affiliated with, endorsed by, or acting on behalf of Talcott Resolution or The Hartford.
In This Article
Why Term Has to Be Converted First
Term life insurance is rented coverage. You pay a level premium for ten, fifteen, twenty, or thirty years; if the insured dies during that window the death benefit is paid; if not, the policy simply ends. There is no cash value and nothing accumulates.
A life settlement buyer is purchasing a future death benefit. A term policy that expires in six years, or that starts charging steeply increasing annual renewal premiums after the level period, does not reliably deliver one. That is why buyers almost never purchase term coverage as term.
The bridge is the conversion privilege. Most term policies include a contractual right to exchange the coverage for a permanent policy — universal life or whole life — from the same insurer, with no new medical underwriting. Your health is irrelevant to the exchange. That is the valuable part: a person in poor health, who could never buy new coverage, can still convert. Once converted, the policy is permanent, and permanent coverage is what the secondary market buys.
Find Your Conversion Deadline Today
Conversion rights are limited in two ways, and your policy may impose either or both:
- By age. The right ends at a stated attained age — commonly somewhere in the 65 to 70 range, though it varies widely by contract and era.
- By duration. The right ends after a set number of policy years, or at the end of the level premium period, whichever comes first.
Nobody sends a reminder. There is no agent watching your file, especially on a run-off block where the original agent retired years ago. The right expires on a date buried in a contract you last read decades ago.
Two ways to find it. Read your policy document and look for the conversion or exchange provision — it is usually a short paragraph specifying the last date or attained age. Or call the service number on your most recent premium notice and ask directly: “What is the last date I can convert this policy, and what permanent products is it convertible to?” Ask for the answer in writing. Verify with the carrier as of 2026; do not rely on what an agent told you in 2004.
What Conversion Actually Costs
Converting is not free, and the sticker shock is real. Your term premium was priced for a healthy person at the age you bought it. The converted permanent policy is priced at your current age, on a permanent chassis with far higher lifetime cost. Premiums can multiply several times over.
Some practical details to pin down before you commit:
- Which products the policy converts into. On older blocks the menu may be limited, and what is available on a run-off block in 2026 may be narrower than what existed when the policy was written.
- Whether partial conversion is allowed. Converting only part of a large term face amount can be a cheaper way to preserve a sellable policy.
- Whether the conversion keeps the original rate class. Usually it does, which matters enormously if your health has declined.
- Whether any riders survive the conversion.
Here is the sequencing that keeps you out of trouble: get the policy reviewed before you convert, not after. A review can tell you whether the converted policy is likely to attract offers, and roughly what the settlement economics look like, so you are not paying conversion premiums on a policy nobody wants.
| Your Situation | Can It Likely Be Sold? | What to Do This Week |
|---|---|---|
| Conversion right open, insured 65+, $100k+ face | Often yes | Request a conversion quote and a free policy review in parallel |
| Conversion right open, insured healthy and under 65 | Usually no | Note the deadline; revisit if health or needs change |
| Conversion right expired, insured healthy | Generally no | Nothing to sell; decide whether to keep coverage in force |
| Conversion right expired, serious health impairment | Sometimes | Get a review; ask about viatical rules with a tax professional |
| Face amount under $100,000 | Rarely | Compare keeping the coverage against the premium cost |
The Health Exception
There is one situation where term can be worth pursuing even when the conversion picture looks weak: a serious health impairment in the insured.
Life settlement values are driven by life expectancy. When an insured has a significant medical condition, life expectancy shortens, and the policy becomes materially more valuable to a buyer. In some cases that value is enough to justify a converted premium that would otherwise look absurd. In other cases, a policy that is deep into a level term period with a still-open conversion right and a seriously ill insured can be the most valuable case on a broker’s desk.
This is also where viatical settlements enter the conversation — sales by insureds with a terminal or chronic illness, which are treated differently from ordinary life settlements including, in some circumstances, for federal tax purposes. That is a discussion for a tax professional, not a web page. Nothing here is tax advice.
Documents to Gather
For term, the document list is short but specific:
- The policy cover page — insurer, policy number, face amount, issue date, and the term period. Enough to start a free review.
- The conversion provision from the policy document, or written confirmation from the service center of the final conversion date.
- Your most recent premium notice, confirming the current servicing company and that the policy is in force and paid.
- A conversion quote — what the permanent policy would cost and what the death benefit would be.
- Later, an in-force illustration on the converted policy. See what an in-force illustration is.
Timeline: Two Clocks Running at Once
Term cases have a scheduling problem the other policy types do not. The conversion deadline is fixed and unforgiving. The settlement process takes 60 to 120 days from application to funded payment, and conversion paperwork plus policy issue adds weeks on top.
Work backward from your deadline. If your conversion right ends in four months, start now — request the conversion quote and get a free policy review in the same week, so the two tracks run in parallel rather than in sequence. If your deadline is next month, treat it as urgent. If the deadline has already passed, an in-force term policy with a serious health impairment may still be worth a phone call, but be prepared for the answer to be no.
Standard protections still apply once an offer arrives: get it in writing, insist on independent escrow that releases only after the insurer confirms the ownership change, ask any broker to disclose compensation as gross and net, and note your state’s rescission window.
Realistic Expectations and Next Steps
Be clear-eyed. Most term policies never become settlements, either because the conversion right lapsed, the face amount is under the $100,000 buyers work with, or the insured is healthy with a long life expectancy. That is not a knock on the policy or the carrier — it is the nature of rented coverage.
When it does work, the outcome is meaningful: the federal GAO’s market study (GAO-10-775) found sellers typically received about 10% to 35% of face value, on a policy that otherwise would have expired paying nothing. Since term has no cash value, there is no surrender alternative to compare against — the choice is between something and nothing.
Start with what policies qualify for a life settlement, weigh it at is a life settlement worth it, or read more in the education center. If you also hold permanent Talcott coverage, see selling a Talcott universal life policy or a Talcott whole life policy.
For a free, no-obligation review, send the policy cover page or call (305) 209-7183. Pine Lake works with policies of $100,000 or more in death benefit. Education only — not legal, tax, or investment advice, and not an offer to purchase any policy.
Frequently Asked Questions
Can term life insurance really be sold?
Yes, but almost always only if the policy can still be converted to permanent coverage. Buyers purchase a future death benefit, and term coverage that expires does not provide one reliably. Once converted, the resulting permanent policy is evaluated like any other settlement candidate.
How do I find out if my policy is still convertible?
Look for the conversion or exchange provision in your policy document, which states the final age or policy year for conversion. If you cannot find the document, call the service number on your most recent premium notice and ask for the last conversion date in writing. Confirm it with the carrier as of 2026 rather than relying on memory.
Do I have to pass a medical exam to convert?
Typically no. The value of a conversion privilege is that it lets you exchange term for permanent coverage without new evidence of insurability, usually preserving your original rate class. That is what makes conversion possible for people whose health has declined and who could not buy new coverage.
Should I convert first and then look for a buyer?
Get the policy reviewed before converting when time allows. A review can indicate whether the converted policy is likely to attract offers, so you are not paying higher permanent premiums on a policy the market will not buy. If the deadline is imminent, run both tracks at once.
My policy says The Hartford but Talcott sends the notices. Is that normal?
Yes. The Hartford sold its run-off life and annuity business in 2018 and it became Talcott Resolution, which services those legacy contracts and does not sell new retail policies. Your policy terms, including the conversion privilege, are unchanged. Use the current service number for any request.
What if my conversion deadline already passed?
In most cases there is nothing to sell, since the policy will expire without value. The exception is an insured with a serious health impairment and substantial remaining term, which occasionally still draws interest. A free review will tell you quickly rather than leaving you guessing.
Can I convert only part of my term policy?
Many contracts allow partial conversion, which can lower the permanent premium while still producing a policy large enough to be sellable. Whether yours permits it, and any minimum face amount, is set by the policy language. Ask the service center directly.
How much time should I allow for the whole process?
Conversion paperwork and policy issue typically take a few weeks, and the settlement process itself runs roughly 60 to 120 days from application to funded payment. Work backward from your conversion deadline and start both tracks together if the date is close.
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
- What Policies Qualify For Life Settlement
- Is A Life Settlement Worth It
- What Is An In Force Illustration
- Education Center
- Sell My Talcott Resolution Universal Life Policy
- Sell My Talcott Resolution 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.