How to sell a term policy for cash.
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Term policy calculator
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Term policy review result
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Enter detailsStart with policy amount, age, and conversion status to see a review result.
Conversion Status
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UnknownThis preliminary term policy review is not an offer or guarantee. A term policy generally needs an available conversion option before it can be reviewed for a life settlement. Final value depends on conversion rights, conversion deadlines, converted premium requirements, policy documents, medical review, buyer demand, and the competitive bidding process.
Here's how the term life settlement calculator works.
Most life settlement calculators ask for contact information before they give policyowners anything useful. This one does not. A few companies have even started removing calculators from their websites altogether, insisting that “reaching out” to get an estimate is the better path. It’s not. Life settlement companies must continue to invest in these sorts of tools so that people have the resources needed to make a good decision without requiring their personal or business email address and phone number.
Windsor’s term life settlement calculator is designed to give policyowners a private, no-pressure estimate based on the policy details that actually matter. It does not require a name, phone number, email address, or mailing address to get an estimate.
A term life policy can be complicated, especially if it has a conversion option, a deadline, changing premium costs, or unclear carrier rules. The calculator asks for the policy details needed to estimate whether the policy may be reviewable for a life settlement. A calculator result is not a guaranteed offer. But it is an educational estimate based on the information provided to it. If the policy appears promising, incomplete, urgent, or even not currently qualified, Windsor can still review the policy documents at no cost to help determine whether there may be a path forward.
Windsor represents policyowners, long before they become clients and customers, as a proud fiduciary. This means safeguarding a policyowner’s financial interests as well as their personal data.
What information does the term policy settlement calculator use?
| Calculator Input | Why It Matters | What Policyowners Should Know |
|---|---|---|
| Policy Face Amount | The death benefit helps determine whether the policy may justify review costs, premiums, underwriting, and buyer interest. | Larger policies are generally more likely to be reviewed. |
| Insured Age | Age helps estimate whether the policy fits current life settlement market conditions. | Age alone does not determine eligibility. |
| Convertible Policy Status | Conversion is often the most important issue for term life insurance. | Many term policies may only be reviewable if they can still be converted. |
| Conversion Deadline | The deadline determines how much time remains to act. | This date may matter more than the term expiration date. |
| Health Status | Broad health categories help estimate whether the policy may attract buyer review. | The calculator does not ask for medical records or detailed health history. |
| Current Premium | Premium cost affects the economics of keeping the policy active. | Higher premiums can reduce review potential. |
| Converted Premium | The future premium after conversion can strongly affect settlement potential. | A conversion illustration may help Windsor refine the review. |
| Insurance Carrier | Carrier information can affect conversion rules, documentation, and buyer familiarity. | Unknown carrier information does not prevent someone from using the calculator. |
| Term Expiration Date | The expiration date shows when the current term coverage may end. | This is useful, but conversion rights are often the more important issue. |
Policy Face Amount
The policy’s death benefit is the starting point for any estimate. Larger policies are generally more likely to be reviewed because the potential settlement value must justify future premiums, underwriting, and transaction costs.
Insured Age
The insured’s age helps estimate whether the policy may fit current life settlement market conditions. Age alone does not determine whether a policy qualifies, but it is one of the major factors used in review.
Whether the Policy Is Convertible
For term life insurance, this may be the most important question. Many term policies only become reviewable for a life settlement if they can still be converted into permanent coverage. If the policyowner is not sure whether the policy is convertible, Windsor can help review the policy language.
Conversion Deadline
A conversion deadline indicates how much time remains to act. This date can matter more than the term expiration date because once conversion rights expire, the settlement opportunity may become limited or disappear.
Health Status
The calculator uses broad health categories to estimate the potential for review. It does not ask for medical records, physician names, prescriptions, or detailed health history. More detailed health information may be requested later only if the policyowner chooses to submit the policy for review.
Current Premium
Current premium helps estimate the cost of keeping the policy active. Premium cost affects whether a policy may be attractive for review.
Converted Premium
If the policy can be converted, the new premium is one of the most important inputs when getting an estimate. A conversion illustration from the carrier can help show what the policy would cost after conversion. The policyowner does not need that illustration before using the calculator, but it may help Windsor refine the review later.
Insurance Carrier
Carrier information can help Windsor understand policy options, conversion rules, and what documentation may be needed. If the policyowner does not know the carrier, the calculator can still be used.
Term Expiration Date
The term expiration date shows when the current term coverage may end. This is useful, but it is not always the same as the conversion deadline. For settlement purposes, conversion rights are often the more important issue.
What do the calculator results mean for policyowners?
The calculator result is a starting point, not a final decision. A term life settlement estimate depends on several moving pieces: the policy’s death benefit, the insured’s age, the insured’s general health category, premium costs, conversion rights, carrier rules, and how much time remains before important deadlines. The calculator uses those details to estimate whether the policy may be reviewable. Still, after using the calculator, a more formal Windsor review is still needed before anyone can determine whether the policy can be submitted to buyers. The most important takeaway is simple: a weak result does not always mean the policy should be ignored, and a strong result does not guarantee an offer. Term policies are document-driven. The policy language, conversion rules, available permanent products, premium structure, and carrier requirements can all affect what happens next.
Need More Info
A Need More Info result means the calculator does not have enough detail to produce a confident estimate. This often happens when the policyowner is not sure whether the policy is convertible, does not know the conversion deadline, does not have the converted premium, or is missing other key policy information. This result should not be treated as a dead end. Many policyowners do not know their conversion rights, and policy documents are not always easy to interpret. Windsor can review the policy at no cost to help determine whether the policy has conversion, exchange, extension, or other options worth exploring.
Not Eligible
A “Not Eligible” result means the information entered does not appear to meet the calculator’s basic review criteria. For example, the policy may be below the minimum face amount, or the policy may not appear to have an available conversion option based on the information entered. This does not always mean there is nothing to review. Some policies include provisions that are easy to miss. A policy may have a conversion option, exchange feature, extension possibility, or carrier-specific rule that does not appear obvious from the basic information entered into the calculator.
Not Currently Qualified
A “Not Currently Qualified” result means the policy may not appear ready for a life settlement review based on the information entered, though it could potentially be qualified in the future. This may happen because the insured is too young for the current market, the health profile does not appear to support buyer interest, the premiums are too high, the conversion option is unclear, or key information is missing. This result should not be viewed as permanent. A policy that is not qualified today may still deserve review if conversion rights are active, if a deadline is approaching, or if the policyowner is unsure about the available options.
Possible Candidate
A “Possible Candidate” result means the policy has some characteristics that may support further review. This does not mean the policy will receive an offer. It means the information entered suggests there may be enough potential value to justify a closer look. Windsor may need to review the policy documents, verify conversion rights, understand the converted premium, and determine whether the policy could be presented to buyers. Recommended next step: Submit the policy for Windsor review before making a conversion decision or allowing a deadline to pass.
Strong Candidate
A “Strong Candidate” result means the policy appears to have stronger review characteristics based on the information entered. This may involve a larger death benefit, older insured age, meaningful health changes, manageable premium costs, an available conversion option, or a conversion deadline that still allows time for review. A Strong Candidate result is still not a guaranteed offer. The policy must be reviewed, the conversion details must be confirmed, and buyer interest must be tested before a settlement value can be determined.
Viatical Candidate
A “Viatical Candidate” result means the policy may require a specialized review because of serious health circumstances. These cases can be highly time-sensitive, especially when the policy is term life insurance and conversion rights may expire. Windsor can review whether the policy may be convertible, whether the premium structure supports a potential transaction, and whether the case may be appropriate for a specialized buyer review.
What to Do After Reviewing the Result
The recommended next step is the same in nearly every situation: submit the policy for Windsor review. Windsor reviews all policies at no cost to policyowners or financial professionals. So it never hurts to have a professional verify the results. That does not mean the policy will qualify. It means the policy may deserve a closer look before the policyowner lets coverage lapse, ignores a conversion deadline, or assumes there are no options.
Requesting A Conversion Illustration
If the policy appears convertible, Windsor may recommend requesting a conversion illustration from the insurance carrier. A conversion illustration shows what the policy may look like after conversion, including the new premium and available permanent coverage options. The policyowner does not need to wait for a conversion illustration before submitting the policy. The policy can be submitted first, and the illustration can be requested from the carrier while Windsor reviews the policy. If the policy does not appear qualified, Windsor can still review whether any conversion, exchange, extension, or other carrier option may be available.
Term policies can be difficult to evaluate without the actual policy documents, and many policyowners are not aware of every provision in their contract. The calculator is meant to help policyowners make a more informed decision early in the process. But it’s not perfect and it certainly has limitations.
What the term life settlement calculator cannot tell policyowners.
Windsor was one of the first life settlement firms to offer a public life settlement calculator, and the company continues to invest in improving it over time. The term life settlement calculator is part of that larger commitment. It launched in May 2026 to help answer one of the harder questions in the life settlement market: whether a term life insurance policy may be worth reviewing when conversion rights, premium costs, and policy deadlines may all affect the outcome.
Early feedback from policyowners and financial professionals has been positive. The term calculator has been described as a useful starting point for understanding whether a policy may deserve a closer look. It gives policyowners a private way to enter basic policy details, see an estimated range, and better understand why conversion rights can matter so much for term coverage.
But it is still a calculator. It is not a final underwriting review, a buyer offer, or a guarantee that a policy can be sold.
Term life insurance policies are complicated. Two policies with the same death benefit, insured age, and premium can produce very different outcomes depending on the carrier, conversion rules, available permanent products, health details, timing, and buyer interest. The calculator can estimate review potential, but it cannot see every factor that may affect the final result.
Why the Estimate May Change After Review
The calculator uses the information entered by the policyowner to produce an educational estimate. That estimate can change after Windsor reviews the actual policy documents. A formal review may uncover details that are not obvious from the calculator fields. The policy may have a conversion option that the policyowner did not know about. The conversion deadline may be different from what was expected. The carrier may offer more than one conversion product. The converted premium may be higher or lower than estimated. The policy may include rules, limitations, or timing requirements that affect whether the case can move forward.
That is why the calculator result should be treated as a starting point. It helps identify whether the policy may be worth reviewing, but the policy documents determine what options are actually available.
Carrier Strength and Policy Marketability
The insurance carrier can affect how a policy is reviewed. Some carriers are viewed more favorably in the life settlement market because of financial strength, policy administration, product structure, conversion options, or buyer familiarity. Other carriers may require more caution. Some policies may be harder to evaluate because the carrier, product type, or conversion rules are less familiar to buyers. The calculator may use carrier information to help guide the estimate, but carrier strength is not displayed as a public score. That is intentional. Carrier strength should not be used to discourage a policyowner from submitting a policy for review. Many policyowners do not know how buyers view a specific carrier, and even a less common carrier may still have reviewable policies. The better approach is to review the policy documents and confirm the actual options.
Conversion Rules Can Be Difficult to Confirm Without Policy Documents
For term life insurance, conversion is often the most important issue. A policy may be convertible, not convertible, past its conversion deadline, or convertible only under specific rules. Some policies allow conversion to several permanent products. Others limit conversion to certain products, ages, or time periods. Some policyowners are not sure whether the policy can still be converted at all. The calculator can ask whether the policy is convertible and when the conversion option expires. But it cannot confirm the policy language unless the actual documents are reviewed. This is one reason a policy may still be worth submitting even if the calculator result is unclear, incomplete, or not currently qualified.
Converted Premiums Can Change the Estimate
A converted premium can have a major impact on whether a term policy may be reviewable for a life settlement. If the policy is converted into permanent coverage, the future premium cost affects the economics of the case. A policy with a large death benefit may still be difficult to sell if the converted premium is too high. A policy with a manageable converted premium may be more attractive for review. The calculator can use the converted premium if the policyowner has it. If not, the calculator may use the current premium or an estimated fallback. That can be useful for a first look, but it is not the same as reviewing an actual conversion illustration from the carrier. A conversion illustration can show the permanent policy options, new premium, coverage structure, and available product choices. Windsor may recommend requesting one while the policy is being reviewed.
Health Categories Are Broad by Design
The calculator uses broad health categories because it is designed to be low-friction. It does not ask for medical records, physician names, prescriptions, diagnoses, or detailed health history. That makes the calculator easier to use and less invasive, but it also means the estimate is based on general health information rather than a full underwriting file. A formal review may require more detail if the policyowner chooses to move forward. Additional health information can affect buyer interest, pricing, and whether a policy should be reviewed as a standard life settlement or a viatical case. The calculator does not replace that review. It simply helps estimate whether a review may be worth considering.
Deadlines May Create Urgency
The calculator asks about the conversion deadline because timing can matter. If the conversion deadline is close, the opportunity may be more urgent. Once a conversion option expires, the policy may become harder to review or may no longer be reviewable for a life settlement. In some cases, the term coverage may continue even after the conversion option ends, which is why the conversion deadline and term expiration date are separate questions. The calculator can flag deadline risk, but Windsor still needs to review the policy documents to confirm the actual deadline and any available carrier options.
Buyer Interest Can Change
Life settlement estimates depend on buyer interest. The calculator can estimate potential value based on policy details, premiums, health category, and conversion status, but buyers make their own decisions. Market appetite can vary by policy size, insured age, health profile, premium burden, carrier, policy structure, and expected timeline. That means a calculator result is not the same as a market-tested offer. A policy may appear promising but receive limited buyer interest. Another policy may look uncertain at first but become more interesting after documents, conversion details, or health information are reviewed. This is why Windsor’s review matters. When a case qualifies, Windsor can help determine whether the policy should be presented to buyers and whether a competitive process may create a better result than going directly to a single buyer.
The Calculator Is a Starting Point
The term life settlement calculator is designed to give policyowners useful information before they submit personal contact information or speak with anyone. That is the right starting point. It gives policyowners a private way to understand whether a term policy may be reviewable, what information matters, and why conversion rights can be so important. But no calculator can fully replace a document review. A policyowner who receives a strong result should not assume an offer is guaranteed. A policyowner who receives a weak result should not assume there are no options. Term policies can include conversion, exchange, extension, or carrier-specific provisions that are difficult to evaluate without the actual policy.
The best next step is to use the calculator as a guide, then submit the policy for Windsor review if the policyowner wants a clearer answer. Windsor reviews policies at no cost to policyowners and financial professionals.
Life settlement document checklist for term policyowners
A complete term policy review may require:
- The original policy contract
- A recent policy statement
- Current premium information
- Conversion deadline confirmation
- Conversion illustration
- Available conversion product details
- Medical information or records
- Owner and beneficiary information
- Trust or business ownership documents, if applicable
- Collateral assignment details, if any
These documents help determine whether the policy can be reviewed by life settlement buyers.
Documents Needed To Sell A Term Policy
| Document | Why It May Be Needed |
|---|---|
| Original policy contract | Confirms the policy type, terms, conversion rights, ownership, and key provisions. |
| Recent policy statement | Shows current policy status, face amount, premiums, and in-force details. |
| Current premium information | Helps determine the cost of keeping the policy active. |
| Conversion deadline confirmation | Confirms how much time remains to convert the term policy, if conversion is available. |
| Conversion illustration | Shows the permanent coverage options and projected converted premium. |
| Available conversion product details | Helps evaluate which permanent products may be available after conversion. |
| Medical information or records | Supports review of health status and potential buyer interest. |
| Owner and beneficiary information | Confirms who controls the policy and who may need to authorize changes. |
| Trust or business ownership documents, if applicable | Verifies authority when the policy is owned by a trust, company, or other entity. |
| Collateral assignment details, if any | Identifies lender or third-party interests that may affect the review. |
Quick answer: the documents. A term life insurance policy becomes reviewable when the documents show that the coverage, conversion rights, premium structure, ownership, and insured health profile can support a potential life settlement transaction. The calculator can provide an early estimate, but the documents determine whether the policy can actually be evaluated by life settlement buyers. This is not unique to Windsor. Any serious life settlement review will require documents that confirm the policy is active, legally transferable, economically viable, and supported by enough information for buyers to evaluate risk. For term policies, that usually means confirming whether the policy can still be converted into permanent coverage and whether the converted policy makes sense from a premium and marketability standpoint.
The Original Policy Contract
The original policy contract is the foundation of the review. It shows the policy type, issue date, death benefit, insured, owner, riders, limitations, and contractual rights. For term policies, the contract may also include the language that explains whether the policy can be converted, when conversion rights expire, and what restrictions may apply.
A Recent Policy Statement
A recent policy statement helps confirm the policy’s current status. Buyers need to know whether the policy is active, what the current death benefit is, what premium is being paid, and whether any changes have occurred since the policy was issued. A policy that looks promising in theory still needs to be verified as active and in force.
Current Premium Information
Premium information is central to any life settlement review. Buyers evaluate not only the death benefit, but also the cost of keeping the policy active. Higher premiums can reduce the potential settlement value because they increase the buyer’s future carrying cost. For term policies, current premium information also helps establish the baseline before any possible conversion.
Conversion Deadline Confirmation
The conversion deadline may be the most important document issue for a term policy. A policy may still have term coverage remaining, but the right to convert may expire earlier. Once conversion rights are gone, the policy may become much harder to review for a life settlement. Confirming the deadline helps determine whether there is enough time to evaluate the policy, request illustrations, and make a decision before the opportunity closes.
Conversion Illustration
A conversion illustration shows what the term policy may look like if it is converted into permanent coverage. It may show the available permanent products, new premium, death benefit, policy structure, and projected costs. This is often necessary because buyers are usually evaluating the economics of the converted policy, not just the current term coverage.
Available Conversion Product Details
Not all conversion options are equal. Some carriers allow conversion into multiple permanent products, while others limit the policyowner to certain products, ages, or deadlines. The available product details help determine whether the converted policy is actually marketable. A term policy may be technically convertible, but the available conversion product still needs to make economic sense.
Medical Information or Records
Medical information helps buyers evaluate the insured’s health profile and potential policy timeline. A calculator can use broad health categories, but a formal life settlement review usually requires more detail if the case moves forward. The level of medical information needed can vary by case, but buyers generally need enough information to decide whether the policy fits their purchasing criteria.
Owner and Beneficiary Information
Ownership information confirms who has the legal authority to sell, assign, or modify the policy. Beneficiary information helps clarify who is currently listed to receive the death benefit and whether changes may be needed before a transaction. A life settlement cannot move forward unless ownership and beneficiary details are clear.
Trust or Business Ownership Documents, If Applicable
Some policies are owned by trusts, businesses, or other legal entities rather than individuals. In those cases, buyers and transaction parties may need documents showing who has the authority to act for the trust or business. This can include trust documents, corporate resolutions, operating agreements, or other ownership records.
Collateral Assignment Details, If Any
A collateral assignment means another party may have a legal interest in the policy, often because the policy was used to secure a loan or financial obligation. This must be reviewed before a life settlement can move forward because it may affect who is entitled to proceeds, who must consent, and whether the policy can be transferred.
Why Documentation Is So Important
Life settlement buyers do not evaluate policies based on estimates alone. They evaluate contracts, premium obligations, conversion rights, ownership records, health information, and market conditions. The documents show whether a policy is active, transferable, financially viable, and worth presenting to buyers.
For term policyowners, the most important lesson is simple: the calculator can identify whether a policy may deserve review, but the documents determine what options actually exist.
Should policyowners work with direct buyers or work with Windsor?
A policyowner generally has two paths after a policy appears reviewable: go directly to a company that buys life insurance policies, or work with Windsor to review the policy and determine whether it should be presented competitively. A direct buyer is evaluating the policy as a potential purchase. That company may make an offer, but the offer reflects the buyer’s own pricing, risk view, and investment goals.
Windsor works on the policyowner’s side of the transaction. If the policy qualifies, Windsor can help evaluate the case, organize the necessary information, and determine whether the policy should be shown to multiple life settlement buyers and funds. That process can create competition for the policy instead of relying on one company’s view. This matters because buyers may evaluate the same policy differently. One buyer may be more comfortable with a certain carrier. Another may be more interested in a certain policy size, premium structure, health profile, or expected timeline. A policy that receives limited interest from one buyer may receive stronger interest elsewhere.
Not every policy qualifies. Not every policy receives multiple offers. But when a term policy is marketable, the process used to review and present it can affect the outcome. Windsor’s role is to help policyowners understand the available options, avoid unnecessary pressure, and decide whether a life settlement review makes sense before making a final decision.
Frequently Asked Questions About Term Policies
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