How much money do you get for selling your life insurance policy?

The amount depends on your policy’s value, your age and health, and the type of buyer.

Life settlements (selling to a third party) typically pay 20% to 60% of the death benefit, though this varies widely. Factors that raise the payout include a larger death benefit, older age, serious illness or shortened life expectancy, and lower ongoing premiums the buyer would need to pay.

Viatical settlements, for people with terminal illness, often pay a higher percentage, sometimes 50% to 80%, since the buyer expects a quicker payout.

To get an actual number, you’d need a life settlement broker or company to evaluate your specific policy, age, health status, and premium costs, then compare offers from multiple buyers before deciding.