Is Term Life Insurance An Asset? 
Term life insurance is not an asset in and of itself . But term life insurance could beconstruedas personal property . Term life insurance policy may be convertibleto apermanentcash value policy , which could be sold to athirdparty as a life insurance settlement asset . On that basis that personal property can be sold to athirdparty , it is generally defined as an asset . Keep in mind that there are state and/or insurance companyregulationson these transactions which may prohibit the sale . 