Frequently Asked Questions

I don't have a term policy, but have other policies. Can these be sold?
Yes! If you have universal life, whole life, survivorship life, etc., and are age 70 or older, please visit lifesettlementclearinghouse.com.

Do I pay a fee or am I under any financial obligation?
No -- We charge absolutely no fee and you are under no obligation.

Do I need an exam?
No exam is required.

What does "convertible" mean?
Most, not all, term policies can be converted, up to a certain age (e.g., 70, 75, etc.) without evidence of insurability to a level premium long-term policy (e.g., Universal Life, etc.).

How do I know if my policy is convertible?
We can quickly determine if your term policy is convertible. Within your policy will be provisions outlining the convertible option. Call us at 1-800-233-6481 with your policy handy and we can easily determine the provisions.

How much will I be paid?
Your age, your insurance company, the prospective premiums necessary to carry the policy are all contributing factors.  Call us and we can give you a fairly good estimate.

Is there a disadvantage?
The term policy, when sold by you, will remain in force. As such, this may impact your capacity to purchase additional insurance in the future. The total amount of life insurance you may buy varies from company to company. Call us for more details about your situation.

How long have you been in the life insurance business?
We've been in the life insurance business over 35 years and have vast experience to answer any of your questions. We will be happy to send you a bio/background on our company and experience.