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Sunday Life
Free yourself from premium payments forever.
Receive up to 7x your policy's cash surrender value.
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$707 million
Source: Life Insurance Settlement Association (LISA), 2023 Market Data Collection Survey Results
Insured: Male, 78
Insured's Health: Good
Policy Type: Universal Life
Policy Amount: $500,000
Est. Settlement: $45,000-$80,000 cash
Premiums are becoming increasingly expensive and he needs funds to supplement retirement income.
Insured: Female, 82
Insured's Health: Fair
Policy Type: Whole Life
Policy Amount: $250,000
Est. Settlement: $60,000-$110,000 cash
Her estate tax burden has decreased, and she wants to use the cash to cover long-term care expenses.
Insured: Male, 67
Insured's Health: Poor
Policy Type: Convertible Term
Policy Amount: $1,000,000
Est. Settlement: $150,000-$280,000 cash
The term policy is nearing the end of its term and premiums are set to increase dramatically upon conversion; he and his family no longer need the large amount of coverage.
Insured: Female, 90
Insured's Health: Poor
Policy Type: Universal Life
Policy Amount: $150,000
Est. Settlement: $50,000-$85,000 cash
She can no longer afford the premiums and would have let the policy lapse otherwise; the money will go to her grandchildren.
Insured: Joint, 75
Insured's Health: Mr: Fair, Mrs: Good
Policy Type: Second-to-Die Universal Life
Policy Amount: $2,000,000
Est. Settlement: $200,000-$450,000 cash
Their children are financially secure, and they would prefer a lump sum now to enjoy their retirement and travel.
1) Initial assessment: You provide details about your policy and health for a free evaluation to see if you qualify.
2) Medical underwriting: Your medical records are reviewed to determine your life expectancy, which affects the policy's value.
3) Offer and review: We collect offers from potential buyers for your policy. You are under no obligation to accept.
4) Closing and funding: If you accept an offer, ownership is transferred and the lump-sum payment is placed in an escrow account. The funds are released to you after the ownership change is confirmed.
Before committing to a sale, you can also explore these options: surrender the policy, borrow against the policy, accelerated death benefit (if you are terminally or chronically ill), reduced paid-up option.
People explore a sale for many reasons, including: 1) no longer needing or being able to afford the policy 2) needing cash for medical expenses, retirement income, or other needs 3) the beneficiaries no longer requiring the financial support from the policy.
Most permanent life insurance policies are eligible, including: whole life, universal life, joint (first-to-die) policies, survivorship (second-to-die) policies, & term policies that are convertible to a permanent policy.
The amount varies and is determined by several factors, including: 1) your age and health status 2) the policy's face value, cash surrender value, and premium schedule 3) current market conditions
As a life settlement broker, we have a fiduciary duty to act solely in your best interest, not the buyer's. This means our goal is to negotiate the highest possible settlement amount for you.
Yes, Florida law requires us to protect your privacy and only share your information with licensed providers and investors under strict confidentiality agreements.
Yes, it has been legal for over a century. In 1911, the U.S. Supreme Court case Grigsby v. Russell affirmed that a life insurance policy is personal property that a policyholder has the right to sell.
Yes, Florida has a "free-look" or rescission period of 15 days during which you can cancel the sale after receiving the proceeds.
No, absolutely not. We operate on a contingency basis. This means we only get paid if we successfully sell your policy and you accept the offer. Our fee is a percentage of the final settlement amount and is deducted automatically at closing from the funds you receive.
No, once the settlement is finalized and the transaction is complete, you are no longer responsible for paying any premiums on that policy.
The proceeds from a sale are typically taxable. The amount received is taxed as ordinary income up to the policy's cash value, with any amount above that possibly taxed as a capital gain.