Your estate plan has changed
If the policy was bought to cover estate taxes that no longer apply, or your estate has been restructured, the coverage may no longer serve its purpose. Selling it can unlock that value now.
Life settlements
Second-to-die life insurance
Second-to-die policies are often bought for estate planning that has since changed. If yours no longer fits your plans, it can be sold for a lump sum rather than surrendered or left to lapse.
Overview
A second-to-die policy, also called survivorship life, covers two people, usually spouses, and pays the death benefit only after both have passed away. Most were bought for estate planning, to pay estate taxes or to leave a legacy to children or a charity.
Estate plans change. Tax laws shift, estates are restructured, and the reason for the policy may disappear, while the premiums keep coming. Survivorship policies can be sold in a life settlement just like single-life policies, often for more than the cash surrender value.
Life Settlements Now reviews your policy, explains what buyers look at when two people are insured, and presents it to multiple buyers to find the strongest offer. The review is free, and you’re under no obligation to sell.
Symptoms
When to consider cashing out
One of the insured has passed away
After the first death, the policy still pays only when the surviving spouse passes, and premiums may continue. Many survivors choose to sell the policy and use the proceeds during their lifetime.
Premiums no longer make sense
Survivorship premiums can be significant, especially after retirement. If the payments have become a burden, a settlement lets you stop paying and still receive a lump sum for the policy.
You’re thinking of surrendering it
Before you accept your insurer’s surrender value, find out what a buyer would pay. We’ll compare both numbers side by side, so you can choose the option that’s worth more to you.
Our process
How cashing out works
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Tell us about the policy
We start with your survivorship policy, the two people it covers, and why you’re thinking of selling. It’s a no-pressure conversation with no obligation to move forward.
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We review both insured
Buyers consider the health and life expectancy of both people on the policy, along with the premiums and face amount. We explain how those factors may affect your offer.
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We find the strongest offer
We present your policy to multiple licensed buyers so they compete for it. You see every offer side by side with your cash surrender value.
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You decide whether to sell
If you accept an offer, we guide you through closing, and the funds are released once ownership transfers. If you don’t, you owe nothing and keep your policy.
Scope
What the service includes
The policy review is free. If your policy sells, our compensation is disclosed in writing before you sign anything.
Request service- Free policy review
- Marketing to multiple licensed buyers
- Review of both insured
- Guidance through closing paperwork
- Surrender value comparison
Second-to-Die (Survivorship) questions
Answers before you book.
More questions on our full FAQ page.
Can a second-to-die policy be sold?
Yes. Survivorship policies can be sold in a life settlement just like single-life policies. Buyers base their offer on the face amount, the premiums and the life expectancy of both insured.
What if one of us has already passed away?
You can still sell the policy. With only one insured remaining, buyers base their offer on the survivor’s life expectancy, which can make the policy more attractive to them.
Do both people need to be involved?
If both insured are living, buyers will typically need medical information and consent from each of them. We’ll explain exactly what’s needed and help you gather it.
What should I have ready?
Your policy number, insurance company, face amount, current premium and the names of both people covered. A recent policy statement helps too, and we can request anything else from your insurer.
Related services
Often booked alongside this.
Life Settlements
Clear guidance for seniors and policyholders considering life settlements and alternatives to letting a policy lapse.
Viatical Settlements
Clear guidance for policyholders considering viatical settlements and alternatives to letting coverage lapse.
Universal Life
Clear guidance for understanding universal life policy options.
Before you decide,
get clear information.
If you are considering surrendering a policy or allowing it to lapse, a consultation can help you understand life settlements and other available alternatives.
