How the Process Works

What happens to my beneficiaries once I sell my policy?

Once a policy is sold in a life settlement, the original beneficiaries are removed and no longer receive the death benefit. This is because the policy’s ownership transfers to the buyer, who becomes the new beneficiary for investment purposes.

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This change is part of the closing process and is required for the buyer to take on future premium payments. For many seniors, this decision is acceptable because the policy is no longer needed for family protection, or because beneficiaries agree that selling the policy is in the policyholder’s best interest.

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Some families discuss the decision together so everyone understands the benefits and tradeoffs. After the sale, neither you nor your beneficiaries are responsible for future premiums, and you receive your cash payout. The policy is fully transferred, along with all rights and responsibilities.

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“They made the whole process simple.”
I didn’t even know you could sell a life insurance policy until I found Settle. They explained everything clearly, handled the paperwork, and got me an offer much higher than I expected.
– Robert H., Dallas
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"I finally got real value from my policy."
After paying premiums for years, I thought about letting my policy lapse. Settle helped me turn it into cash that I used for medical expenses and to help my grandkids.
– Michael H., Tampa
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"Transparent, professional, and fast."
I’d looked into selling my policy before, but the process always felt confusing. Settle made it easy to understand, kept me updated, and helped me close quickly with no pressure.
– Tom S., New Hampshire
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© 2025 Settle Life, Inc. | All Rights Reserved
Settlewealth.com is a website owned and operated by Settle Life, Inc. (“Settle”), a financial technology and life settlement marketing company based in the United States. Settle is not a licensed life settlement provider, nor a licensed life settlement broker, and does not engage directly in regulated life settlement transactions as a representative of policyholders. Our core function is to serve as a facilitative platform, designed to connect qualified life insurance policy owners with licensed life settlement providers, institutional buyers, and other investment-related entities, some of which may be affiliated with or compensated by Settle. These providers and firms operate independently and are solely responsible for the purchase and servicing of life insurance policies acquired through settlement transactions.

Settle is not acting in a fiduciary capacity, and our role does not include giving financial, legal, tax, or insurance advice. We do not offer or originate bids for policies, nor do we negotiate life settlement contracts on behalf of either sellers or buyers. Rather, Settle’s platform operates as a conduit, streamlining introductions and enabling potential transactions between consenting parties. In instances where a life settlement transaction is successfully completed as a result of a referral, lead, or introduction facilitated by SettleWealth.com, Settle may receive compensation from the licensed provider or other participating entities. The nature and amount of such compensation may vary by transaction and is typically paid from proceeds allocated within the provider’s purchase structure.

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We encourage all users to conduct thorough due diligence before pursuing or accepting any life settlement offer. The process may have implications on Medicaid eligibility, estate planning, taxes, and future insurability. It is the responsibility of the user to consult qualified professionals as needed. Settle does not assume any responsibility for individual outcomes or the suitability of life settlements for specific users.

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