Life Settlement for Seniors Over 65

For many seniors, life insurance policies that once served an important purpose may no longer be necessary. At the same time, rising premiums or changing financial priorities can make maintaining coverage difficult.

A life settlement may provide an alternative by allowing eligible policyholders to sell their policy for cash.

Why Age 65+ Matters

Most life settlement transactions involve individuals age 65 or older. At this stage, policies are often more attractive to buyers due to the expected timeline of the benefit.

Common Reasons Seniors Consider a Life Settlement

Coverage is no longer needed
Premiums have become expensive
Retirement income needs have changed
Healthcare or long-term care costs

Types of Policies That May Qualify

Universal life
Whole life
Variable life
Convertible term life

Potential Benefits

Access to immediate cash
No future premium obligations
Flexibility in how funds are used

Important Considerations

Loss of death benefit
Potential tax implications
Impact on estate planning

How the Process Works

Policy review
Eligibility evaluation
Market bidding
Offer selection
Closing and funding

Next Steps

If you are over 65 and considering your options, evaluating your policy may help you determine whether it has value.

Check your policy value or learn how to sell your policy.

Frequently Asked Questions

What age qualifies for a life settlement?

Most policies sold in life settlements involve individuals age 65 or older.

Do seniors get higher offers?

Age is a key factor, and older policyholders may receive stronger offers depending on health and policy details.

Is a life settlement right for retirees?

It can be a useful option for retirees who no longer need coverage or want to access liquidity.