You may be able to sell your term life insurance if both of the following are true:  The term policy is convertible into a permanent policy. To sell your term life insurance, you’ll want to convert it into permanent insurance, and then sell the permanent policy. Term life policies that are not convertible are generally not sellable. If you’re not sure if your policy is convertible, contact your insurer and ask. Specifically, you want to know if you have a conversion rider or option to convert your policy. Also ask when the conversion period ends. Not all policies allow you to convert at any time. You are 65 or older, or terminally ill. There are two ways to sell your term life insurance. The most common is a life settlement, which is reserved for senior insureds aged 65 or older. The second option, a viatical settlement, is available only if you are terminally ill with an expected lifespan of 24 months or less. The life settlement process is complex and overwhelming for most people, which is why it’s recommended to work with an experienced third-party such as Harbor Life Settlements to guide and ensure you get a fair value for your policy. Before you begin the process, you’ll need to decide whether you’ll work with a broker or provider