Yes – a Zurich American Life universal life policy can be sold through a life settlement. The contract belongs to you, the buyer purchases it directly, and the carrier’s approval is not needed for the sale. Universal life is the most frequently traded policy type in the secondary market, so the question is not whether this kind of policy can be sold but whether you and the policy meet what buyers look for.
Zurich owners often have to do a little detective work first. Zurich American Life Insurance Company is part of Zurich Insurance Group, the Swiss insurer founded in 1872. The U.S. life entity carried the name Kemper Investors Life Insurance Company before being renamed Zurich American Life Insurance Company around 2010, which is why older contracts and correspondence may reference Kemper. Zurich’s U.S. life focus has centered on group benefits and corporate-owned coverage rather than individual retail sales, and older individual universal life blocks may be administered by a third party. Verify who services your policy on your current premium notice as of 2026 rather than assuming.
Below: how UL is valued, the in-force illustration that drives the offer, and an honest comparison against surrendering. Pine Lake Life Solutions is not affiliated with Zurich American Life Insurance Company or Zurich Insurance Group.
In This Article
Kemper, Zurich, and Who Answers the Phone Now
If your policy paperwork says Kemper Investors Life Insurance Company, you are not looking at the wrong file. That entity was renamed Zurich American Life Insurance Company around 2010 as part of Zurich Insurance Group’s U.S. operations. Contracts issued under the older name remain in force under the new one, with the same terms.
Two practical consequences. First, when you call for documents, be ready to give the policy number rather than relying on the company name. Second, older individual life blocks at large carriers are frequently administered by a third-party service provider rather than the insurer’s own staff, so the phone number and address on a 1990s policy may be long dead. Use the contact information on your most recent premium notice, and confirm in 2026 who is administering the policy before you request anything.
Why Universal Life Dominates the Settlement Market
A universal life policy holds an account value that is charged each month for the cost of insurance plus administrative expenses. Cost of insurance is priced on the insured’s age, so it rises every year – gently in your fifties, steeply in your late seventies and eighties. Meanwhile the account value grows only at whatever rate the carrier credits.
Sooner or later the charges outrun the value. The owner gets a notice demanding a far larger premium than they ever planned to pay, and the choices look like pay it, lapse it, or surrender for whatever is left. The settlement market exists because there is a fourth choice: sell the contract to someone willing to carry those rising costs in exchange for the eventual death benefit. That structural mismatch is exactly why UL policies are the most commonly sold type across every carrier.
Get the In-Force Illustration Before Anything Else
An in-force illustration is a projection run on your actual policy showing how long it survives at different premium levels using current charges – not the assumptions in the sales illustration you were shown decades ago. Request one at current charges and one at guaranteed maximum charges. Both are free and neither obligates you.
This document drives the offer more than almost anything except the medical file, because a buyer is pricing the cost of carrying the policy for years. Older UL contracts sometimes have relatively favorable guaranteed elements, and occasionally an owner discovers their policy is in better shape than they feared. Expect the illustration to take a couple of weeks to arrive; request it early so it is in hand when the review starts.
| What Buyers Look At | Where to Find It | Why It Matters |
|---|---|---|
| Death benefit | Policy cover page | $100,000 minimum for most buyers |
| Account and surrender value | Latest annual statement | Sets the floor you are comparing against |
| Projected premium to keep in force | In-force illustration | Largest cost input to the offer |
| No-lapse guarantee status | Written confirmation from the administrator | An intact guarantee raises value |
| Outstanding policy loan | Annual statement | Paid off at closing, reducing net proceeds |
| Life expectancy | Independent underwriting reports | The single biggest driver of price |
Watch for a No-Lapse Guarantee
Some universal life contracts include a no-lapse or secondary guarantee provision: as long as a specified premium is paid on schedule, the death benefit stays in force even if the account value falls to zero. Where present, these guarantees are attractive to buyers, because they replace uncertainty about future charges with a known premium.
They are also fragile. Missing or shorting a premium can forfeit the guarantee permanently, sometimes without an obvious warning on the statement. If you believe your policy has one, ask the administrator to confirm in writing whether the guarantee is currently intact and what premium maintains it. That single answer can materially change what your policy is worth.
Comparing an Offer Against Surrender
Here is a clearly hypothetical case. A $750,000 universal life policy on an 83-year-old insured with health issues, a $26,000 account value, no loan, and a projected annual premium of $31,000 to keep it in force. Surrender yields roughly $26,000 and ends the coverage. A settlement at 14% of face would be $105,000.
Made-up numbers, but the shape is representative. The U.S. Government Accountability Office found in GAO-10-775 that settlement sellers commonly received several times what surrender would have paid, often four to eight times cash surrender value. Market-wide, offers generally fall between 10% and 35% of the death benefit. The only way to learn your figure is to have the policy reviewed – no honest company quotes from a description.
The Documents and the Process
Gather the policy cover page showing owner, insured, face amount, and policy number; the most recent annual statement showing account value, surrender value, and any loan; and the in-force illustration. The insured signs HIPAA authorizations so independent underwriting firms can review medical records and produce life expectancy estimates.
From there, expect 60 to 120 days. Underwriting takes several weeks, buyers bid over a period of weeks, and closing runs through escrow so funds are set aside before ownership transfers. Change-of-ownership and change-of-beneficiary forms go to the administrator, and once the transfer is recorded, escrow releases the money. Most states give sellers a rescission period after closing to reverse the sale by returning the proceeds.
When Not to Sell
Say it plainly: a settlement is not always the right answer. If a surviving spouse, a disabled family member, or a business obligation depends on that death benefit, keeping the coverage generally wins – and reducing the face amount to cut the monthly cost of insurance is often a cheaper way to keep it than owners realize.
If the insured is terminally ill, look first at any accelerated death benefit rider in the contract; it can pay part of the benefit quickly with far less process. And if the purpose of the cash is a Medicaid spend-down, proceeds are countable resources and transfers are subject to a look-back period, so the sequencing needs an elder law attorney’s input before the money arrives. We provide information, not legal, tax, or investment advice.
Frequently Asked Questions
Does Zurich have to approve the sale of my policy?
No. Your policy is personal property and may be sold; the buyer purchases the contract and the administrator records the ownership change afterward. Carrier consent is not required for the sale itself.
My policy says Kemper Investors Life. Is that the same company?
Very likely. The U.S. life entity was named Kemper Investors Life Insurance Company before being renamed Zurich American Life Insurance Company around 2010 under Zurich Insurance Group. Contracts issued under the older name remain in force with the same terms. Confirm the current administrator on your latest premium notice.
Who services older individual policies like mine?
Older individual life blocks are frequently administered by a third-party service provider rather than the insurer’s own staff, and Zurich’s U.S. life focus has centered on group and corporate coverage rather than individual retail. Verify who administers your policy as of 2026 using the contact information on your current premium notice.
What is an in-force illustration and why do I need one?
It is a projection of how long your policy stays in force at various premium levels using current charges rather than original sales assumptions. Buyers price the cost of carrying the policy, so this document heavily influences the offer. Request it from the administrator at both current and guaranteed maximum charges – it is free.
How much could I receive?
Offers across the market commonly run 10% to 35% of the death benefit, driven mainly by life expectancy and the cost of keeping the policy in force. A GAO study (GAO-10-775) found sellers typically received several times the cash surrender value. Only a review of your specific policy produces a real number.
I got a lapse notice. Can I still sell?
Usually yes, if you act during the grace period. Buyers can pay the premium needed to keep the policy in force while the transaction proceeds. Once a policy has fully lapsed, though, there is nothing left to sell, so do not set the notice aside.
How do I start?
Send the policy cover page for a free policy review – it shows the face amount, policy type, and owner, which is enough for a first assessment. There is no cost and no obligation, and if the policy does not qualify you will be told directly. Call (305) 209-7183.
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
- What Policies Qualify For Life Settlement
- How It Works Policy Options
- What Is A Policy Loan
- What Is A Life Settlement Broker
- Sell My Voya 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.