Life settlements represent one of the most important financial innovations of the past 30 years. As the leader and creator of the secondary market for life insurance, Coventry has enabled thousands of advisors and their clients to access the market value of life insurance. Let us help you identify the best opportunities for your clients and create opportunities for your firm.

Start a quote.

It's easier than ever to get started. Simply provide a few pieces of information about your client's policy and health, and your dedicated Account Services Team will handle the rest.

Who Qualifies?

Insureds 60 years or older.

$100,000 or greater.

Any policy type.

Any policy type may qualify, even term!

No maximum death benefit.

Life expectancies up to 20 years or more.

What is a Life Settlement?

A life settlement is a financial transaction where an existing life insurance policy is sold for more than its cash surrender value but less than its total face amount. The policyowner receives a lump-sum cash payment, while the provider takes over all future premiums and receives the death benefit at maturity. On average, policyowners receive 4X more than surrender value. Advisors typically receive a commission on the transaction.

About Coventry.

Since 1982, Coventry has been changing the way people think about life insurance. We created the secondary market for life insurance and pioneered life settlements, giving life insurance a fair market value. We coined the term "life settlement," giving consumers a compelling alternative to surrendering their policies or letting them lapse. Now, life insurance carries a dynamic market value that can be independently appraised just like real estate. As a result, consumers are realizing significantly more than cash surrender value for unneeded or underperforming policies. And advisors are finding new ways to bring added value to their client-advisor relationship.

The 2022 Conning research report estimates about $230 billion of existing life insurance meets the minimum criteria for life settlements.

$230 Billion

50%+

In 2022, Coventry purchased more than 50% of all policies sold on the secondary market, representing more than $1.9 billion in face value.

65+

The Advisor Services Team is now more than 65 members strong, providing you with an unparalleled level of service.

Coventry helps foster a closer client-advisor relationship.

Our vertically integrated structure allows us to provide fast and reliable service so you can focus on your clients and growing your book of business instead of the day-to-day operational processing involved in life settlement transactions. We will work with you to create bespoke solutions on a case-by-case basis. And since we purchase policies with our own capital, we don not require third-party approvals to make buying decisions. In certain cases, we can even release funds from escrow prior to receiving confirmation of changes of ownership or advance funds to the policyowner to pay premium costs if the policy is in danger of lapsing.

We have the market's broadest purchase criteria and can buy policies that other providers cannot, including cases featuring younger or healthier insureds and policies where premium illustrations are unavailable.

Opportunity Revealed.

Schedule a Call with Coventry

Common Reasons to Pursue Life Settlements

There are many reasons policyowners and their advisors choose to pursue life settlements, and even more reasons to have your clients' policies evaluated--even if they intend on keeping the policy. There is no cost or obligation to sell, and our Account Services Team handles all the back-office work for you.

The original purpose for the policy no longer exists.

Estate, business, or financial needs have changed.

Liquidity is needed more than coverage.

Premium payments have become unaffordable.

Unaddressed longevity risk.

Case Examples

Policy Type:
Insured:
Face Amount:
Cash Value:

Term
Male, age 75
$11 million
$0

As part of his retirement package, a retiring CEO received an $11 million term policy from his company. His financial planner advised him he could assume the premiums, lapse the policy, or consider a life settlement.

Coventry provided the policyowner with $2.75 million for a policy that otherwise had no value. The policyowner used the funds to establish a trust for his grandchildren. The advisor received a commission on the conversion and life settlement.

Policy Type:
Insured:
Face Amount:
Cash Value:

Universal Life
Female, age 87
$6.5 million
$705,000

The policyowner was still paying premiums in the tenth year of her seven-year vanishing premium policy. She was extremely dissatisfied with the policy performance, but needed life insurance for estate planning purposes. Her advisor recommended that Coventry review the policy.

Coventry provided $2.15 million for the policy, which the policyowner used to purchase a better performing policy. The advisor received a commission on the transaction.