Yes, a Hartford term life policy can be sold, but in most cases only if the policy still has a live conversion privilege that lets it become permanent coverage. Ownership is what makes a sale possible: a life insurance policy is your personal property, the buyer acquires the contract from you, and the insurance company does not get a vote on whether you sell. What buyers will not do is pay for coverage that expires on a fixed date and can never be turned into something lasting.
Term is the least valuable policy type in the secondary market for one simple reason. It has no cash value and, once the level period ends, premiums climb steeply or the coverage stops. A buyer is paying for a death benefit that will eventually be collected. If the policy is guaranteed to expire while the insured is likely still living, there is nothing to buy.
The conversion rider changes that math completely, which is why term owners need to move fast. This guide covers where Hartford term policies are administered in 2026, how to find your conversion deadline, and how to weigh conversion costs against a possible offer. Pine Lake Life Solutions is not affiliated with The Hartford. Send the cover page of your policy for a free policy review.
In This Article
- The Conversion Privilege Is the Whole Story
- Who Administers Hartford Term Policies in 2026
- Reading Your Own Policy for the Deadline
- Does the Policy Meet Buyer Criteria at All?
- The Math of Converting Before Selling
- Paperwork and the Transaction Timeline
- When Selling Is Not the Right Move
- Frequently Asked Questions
The Conversion Privilege Is the Whole Story
Most level term policies include a conversion privilege: the right to exchange the term policy for a permanent policy from the same carrier without new medical underwriting. That last part matters enormously. Someone in poor health cannot buy new coverage on the open market, but a conversion privilege lets them lock in permanent coverage anyway, at the carrier’s published conversion rates.
Life settlement buyers value permanent coverage because they can project premiums for decades and know the death benefit will eventually pay. So the practical question is not really can I sell my term policy. It is whether the conversion right is still open, how much of the face amount can be converted, and what the resulting permanent policy will cost to keep in force.
Conversion rights are limited two ways at once, usually by a deadline expressed as a policy year and by an attained age cap. Whichever comes first is your real deadline, and once it passes it does not come back.
Who Administers Hartford Term Policies in 2026
The Hartford is no longer in the individual life business. It reinsured its individual life block to Prudential Financial effective January 2, 2013, and later sold its run-off life and annuity unit, Talcott Resolution, to an investor group led by Cornell Capital in 2018. Talcott was subsequently acquired by Sixth Street in 2021. The Hartford itself continued as a property and casualty and group benefits company.
The result is that an older policy with a Hartford name on the cover may today be serviced by a different company, with a different phone number, website login, and forms library. That is normal in this industry and does not weaken your rights under the contract one bit. It does mean you should find your most recent premium notice and call the number printed there before you request anything.
When you call, ask three specific questions: who administers the policy today, is the conversion privilege still available and until what date, and what permanent products are currently offered as conversion targets. Get the answers in writing if you can. Verify current financial strength ratings directly with A.M. Best rather than trusting a summary from anyone trying to sell you something.
Reading Your Own Policy for the Deadline
Your conversion terms live in the policy contract, usually in a rider or a section titled conversion privilege or exchange option. Look for language naming a final conversion date, a policy anniversary, or an attained age such as the insured’s 65th or 70th birthday. Annual statements sometimes restate it, but the contract controls.
If you cannot find the pages, request a full policy copy from the administrator along with a written statement of the remaining conversion right. Ask what portion of the face amount is eligible, because some contracts allow only partial conversion or restrict conversion after a certain point in the level term period.
Time pressure here is real. People discover a settlement option months after a conversion window has closed and there is nothing anyone can do. If you are within a year of a stated deadline, treat it as urgent.
| Situation | Can it be sold? | What to do first |
|---|---|---|
| Level term, conversion right still open | Often yes, after conversion | Get the written conversion deadline and eligible amount |
| Level term, conversion window expired | Usually no | Ask whether the carrier offers any exchange program |
| Term already converted to permanent | Yes, if age and face amount fit | Request an in-force illustration at current charges |
| Annual renewable term past level period | Rarely | Compare renewal premium against dropping coverage |
| Face amount under $100,000 | Usually below buyer minimums | Consider keeping or reducing coverage instead |
Does the Policy Meet Buyer Criteria at All?
Before spending money to convert, check the basics. Secondary market buyers generally focus on insureds in their senior years, or younger insureds with a significant health change, and on death benefits of $100,000 or more. Small policies rarely justify the underwriting and legal cost of a transaction.
Health drives price more than anything else. Life settlement pricing is built on a life expectancy estimate produced from medical records. A shorter estimated life expectancy means fewer premium payments for the buyer, which means a higher offer. That is uncomfortable to read but it is how the market works.
Realistic ranges: settlements commonly land somewhere between 10 and 35 percent of the death benefit. A GAO study found sellers received roughly four to eight times more than the cash surrender value they would have received from the carrier, though term policies have no surrender value at all, so the comparison for term is between an offer and simply letting coverage lapse.
The Math of Converting Before Selling
Here is a clearly hypothetical example. Suppose a 74-year-old owns $500,000 of level term coverage in the last year of its conversion window, paying $4,200 a year. Converting to a permanent policy might raise the annual premium substantially, because the carrier is now pricing lifelong coverage at attained age. If an offer later comes in at 15 percent of face, that is $75,000 on a policy that would otherwise have expired worthless.
Those numbers are illustrations only, not quotes. The point is the sequence: explore whether a market exists before you convert if the timeline allows, and understand that you may need to carry the converted policy for a couple of months while the transaction runs.
Also compare against doing nothing. If the premium after conversion is unaffordable and no offer materializes, you will have spent money for coverage you then drop. An honest evaluation includes that downside.
Paperwork and the Transaction Timeline
Gather the full policy including riders, the most recent premium notice, and, after conversion, an in-force illustration for the new permanent policy showing premiums at current charges. Expect to sign a HIPAA authorization so underwriters can request medical records, which is usually the slowest part of the process.
From there the steps are consistent: underwriting review, bids from buyers, an offer you accept or decline, a closing package with change of ownership and beneficiary forms, escrow, and funding once the carrier confirms the change. Plan on roughly 60 to 120 days overall.
After closing, most states give you a rescission window to reverse the sale by returning the proceeds. Read how the process works for the full step by step, and talk to a CPA about tax treatment and an elder law attorney if Medicaid eligibility is in play.
When Selling Is Not the Right Move
Keep the coverage if someone still depends on it. A surviving spouse without other resources, a special needs family member, or a business buy-sell obligation are all reasons the death benefit is worth more to your family than any lump sum.
If you are terminally ill, look at an accelerated death benefit rider first. Many policies include one, it pays a portion of the death benefit early, and it is usually faster and far simpler than selling. If the policy is small and the premium is trivial, sometimes just keeping it is the cleanest answer.
Pine Lake Life Solutions offers education and free policy reviews and is not affiliated with The Hartford. Nothing here is legal, tax, or investment advice. Call (305) 209-7183 or send your policy cover page and we will tell you honestly whether a settlement is worth exploring.
Frequently Asked Questions
Can term life insurance really be sold?
Yes, but usually only when the policy can still be converted to permanent coverage. Buyers will not pay for a death benefit that is scheduled to expire, because they would be paying premiums with no expectation of a payout.
Where do I find my conversion deadline?
It is stated in the policy contract, often in a conversion privilege or exchange option provision, as a policy year, a final date, or an attained age. If you cannot locate it, request a written confirmation from whoever administers the policy today.
Does The Hartford still sell individual life insurance?
No. The Hartford exited individual life and annuities, reinsuring its individual life block to Prudential Financial effective January 2, 2013, and selling its run-off unit Talcott Resolution in 2018. It has continued in property and casualty and group benefits.
Does the carrier have to approve a life settlement?
No. You own the contract and can transfer it. The carrier’s role is administrative, processing the change of ownership and beneficiary forms submitted at closing and confirming the change on its records.
How much might a converted term policy sell for?
Offers commonly fall between 10 and 35 percent of the death benefit, driven mostly by the insured’s age and health and the cost of future premiums. No honest buyer quotes a number before medical underwriting is complete.
Should I convert first or get an evaluation first?
If the deadline allows, get an evaluation first so you are not spending conversion premium on a policy no one will bid on. If the window closes in weeks, converting may be the only way to preserve any option at all.
How long does the process take?
Typically 60 to 120 days from submission to funding. Medical record retrieval is usually the slowest step, so signing authorizations promptly and providing accurate physician information helps more than anything else.
Are settlement proceeds taxable?
Tax treatment depends on your basis in the policy and the amount received, and rules changed with federal tax reform in 2017. Ask a CPA about your specific situation before you close, because this is not something a buyer should be advising you on.
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
- How It Works Policy Options
- Life Settlement Vs Surrender
- What Is A Life Settlement Broker
- Sell My The Hartford Universal Life Policy
- Education Center
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.