Selling Your Term Life Insurance Policy in New Hampshire
Can you sell your term life insurance policy in New Hampshire? At LS Hub, we believe in providing policyholders with the information and tools they need to make informed decisions.
We are here to guide you every step of the way and ensure you receive the maximum value for your policy. While viatical payout minimums are regulated, we can help you get more via competition.
Our industry-leading technology ensures privacy and brings multiple buyers to the table, creating a transparent and efficient process designed to maximize your payout.
Quick Facts:
- Regulation: Selling a life insurance policy in New Hampshire is overseen by the New Hampshire Insurance Department and follows New Hampshire Revised Statutes § 408-D.
- Who Can Qualify: Primarily seniors aged 65+ or individuals with health impairments.
- Why It’s Done: Better alternative to lapsing a policy.
- Partial Term Conversion: We help you look at all options, including keeping part of your term policy and selling the remainder. This can help maintain the coverage you need (at a reduced premium) and receive cash now for the rest.
- Replacement Policies: LS Hub leadership has roots in the life insurance industry and can help clients consider replacement options.
Why Choose LS Hub?
- Serve Not Sell: We’re here to serve, not sell. We understand that selling a life insurance policy is a deeply personal decision, often tied to significant life changes.
- Privacy: We set the gold standard for privacy in the life settlement industry; our platform eliminates unnecessary exposure.
- Competition: We foster secure competition among trusted buyers, ensuring the highest offer for your policy while keeping your personal information private and protected.
- Easy Process: Our streamlined process & technology simplifies every step, making it easy to navigate selling your policy with confidence and peace of mind.
Serve Not Sell
- We’re here to serve, not sell. We understand that selling a term life insurance policy is a deeply personal decision, often tied to significant life changes.
Privacy
- We set the gold standard for privacy in the life settlement industry; our platform eliminates unnecessary exposure.
Competition
- We foster secure competition among trusted buyers, ensuring the highest offer for your policy while keeping your personal information private and protected.
Easy Process
- Our streamlined process & technology simplifies every step, making it easy to navigate selling your policy with confidence and peace of mind.
Why Pursue Selling a Term Life Policy in New Hampshire?
- Maximize Policy Value: Viatical settlements allow you to receive more than the surrender value of your policy, making it an attractive option for policyholders seeking cash from their policies.
- Financial Flexibility: Use the proceeds to cover healthcare expenses, pay off debt, or enjoy life.
- Partial Term Sale Option: Yes, you can sell part of your term policy and keep what you need. This reduces the premium for the amount you keep and can put funds in your pocket for the rest.
Factors That Impact Term Policy Value in New Hampshire
- Policy Face Value: Larger policies often result in higher payouts.
- Premium Costs: Lower premiums make policies more attractive to buyers.
- Health of the Insured: Shorter life expectancies typically lead to higher offers.
- Market Conditions: Demand for policies can influence payout ranges.
Policy Face Value
- Larger term policies often result in higher payouts.
Premium Costs
- Lower premiums make term policies more attractive to buyers.
Health of the Insured
- Shorter life expectancies typically lead to higher offers.
Market Conditions
- Demand for policies can influence payout ranges.
How Does Selling a Term Life Insurance Policy in New Hampshire Work?
- 1) Consultation: Speak with an expert to determine eligibility and options.
- 2) Policy Review: Details about your policy and medical history are evaluated.
- 3) Auction*: Qualified buyers provide competitive bids based on your policy and health.
- 4) Close: Accept the best offer, sign the necessary paperwork, and receive payout.
1) Consultation
- Speak with an expert to determine eligibility and options.
2) Policy Review
- Details about your policy and medical history are evaluated.
3) Auction*
- Qualified buyers provide competitive bids based on your policy and health.
*You are never obligated to accept an offer and there is no cost to you.
Expected Payout for Term Policy Sale
Try our Term Life Insurance Offer Calculator to obtain an estimate of how much your policy could be worth. Keep in mind the best way to get a realistic value estimate for your policy is to speak to an expert.
Key Life Settlement Parties
- Policy Owner: The person or entity selling the policy.
- Insured: The individual(s) insured by the life insurance policy.
- Broker: The licensed entity facilitating the maximum value.
- Buyer: The investment fund purchasing the policy.
Benefits of Selling Life Insurance Policy in New Hampshire
- Immediate Lump Sum: Turn your life insurance into a lump sum payment you can use right away.
- Avoid Policy Lapse: Instead of letting the policy expire, receive value for it.
- No Restrictions on Payout: Use the proceeds for medical bills, debt repayment, travel, or other needs.
- Eliminate Premiums: Relieve the financial burden of ongoing premiums.
Benefits of Selling a Term Life Insurance Policy in New Hampshire
Immediate Lump Sum
Turn your life insurance into a lump sum payment you can use right away.
Avoid Policy Lapse
Instead of letting the term policy expire, receive value for it.
No Restrictions on Payout
Use the proceeds for medical bills, debt repayment, travel, or other needs.
Eliminate Premiums
Relieve the financial burden of ongoing premiums.
Who Qualifies to Sell a Term Life Insurance Policy?
Eligibility Requirements:
- Seniors aged 65+ or individuals with health impairments.
- Policies with a face value of $100,000 or more.
- Policies in force over 2 years.
Unique Data for New Hampshire
Below are some state-specific factors that could influence your decision:
- Life Settlement Regulation: Learn more about the rules in New Hampshire, specifically New Hampshire Revised Statutes § 408-D.
- Regulating Authority: Life settlements are overseen by the New Hampshire Insurance Department.
- Senior Population Growth Rate: The growth rate of seniors in New Hampshire shows a 2.3% increase over 5 years.
- Senior Population: 0.185 of the state’s population are seniors, with key retirement hubs like Keene, Portsmouth, and Laconia.
- Cost of Living Compared to National Average: Keene: 3% above, Portsmouth: 10% above, Laconia: 4% below.
- State Life Expectancy: With an average of 79 years, New Hampshire offers a promising retirement lifestyle.
Risks and Considerations
- Loss of Death Benefit: Beneficiaries will no longer receive the policy’s payout.
- No Competition: Working with a direct buyer or non-expert can limit competition.
- Overshopping: Applying with too many companies can cause end-funds to not engage.
How to Choose the Best Company to Sell Your Term Policy to in New Hampshire
- Licensing and Compliance: Ensure the company is licensed and regulated in your state.
- Competitive Offers: Choose a company that works with multiple buyers to maximize your payout.
- Transparency: Look for a company with clear fees and terms with real time offer updates.
Frequently Asked Questions
Most transactions take between 4–8 weeks from start to finish.
In most cases, proceeds are taxable, check out our article on life settlement taxation. Consult a tax professional for specific guidance.
Yes, convertible term policies may qualify for a life settlement.
Institutional investors and specialized funds are the primary buyers.
Yes, partial life settlements are an option. You can sell a portion of your policy while retaining some coverage for your beneficiaries, providing financial flexibility without fully relinquishing the death benefit.
Life settlement does not base the value of a policy on the cash surrender value but the future value (death benefit) of the policy.
New Hampshire regulates life settlement through New Hampshire Revised Statutes § 408-D and is overseen by the {{authority}}.
