The insurance company will only quote the surrender value — almost always the lowest number. This calculator shows the range policies like yours have historically sold for on the licensed secondary market, side by side with surrendering or letting it lapse.
Free · 5 minutes · an honest read, including "it doesn't qualify"
Illustrative estimates only. Ranges reflect widely published industry averages (life settlements historically 20–40% of face value; viatical settlements 50–80% for terminal diagnoses). Actual offers are determined solely by licensed buyers after reviewing the policy and medical records, and many policies do not qualify. Surrender values shown are typical ranges for permanent policies — your annual statement shows the real number. This is not an offer, appraisal, or financial advice.
Buyers on the licensed secondary market pay based on the death benefit they'll eventually collect; the insurer's surrender value is based only on the cash you've accumulated. For an older or ill insured, those numbers can differ by hundreds of thousands of dollars — which is why most states require settlement brokers to be licensed, and why competing offers matter.
1) Policies under $100,000 rarely find buyers. 2) Term policies usually must be convertible to sell. 3) If the insured is young and healthy, keeping or surrendering is often genuinely better — our questionnaire will tell you that to your face.