Can You Sell A Whole Life Insurance Policy?

  1. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    In most cases, yes you can sell a whole life insurance policy. It must have a significant amount of cash value built up and a decent face amount to be marketable. There are two types of companies that purchase whole life insurance policies. The first is a life settlement company and the second is a viatical company. These types of companies assess the value of your policy, age and your health in order to calculate a price. Once ownership is transferred the company becomes owner and beneficiary and pays all premiums.
    Answered on September 21, 2014
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  2. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Can you sell a whole life plan? Well yes you can. There are companies out there that will buy a policy from an individual and continue the policy until that person dies. These companies own the policy and become the beneficiaries of that policy. The former policyholder receives a cash settlement to give up control of the policy.
    Answered on October 22, 2015
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