Before an owner surrenders a high-value life insurance policy, they should know exactly what it might be worth to an institutional buyer. That is the central message from Citizens Life Group, a private client life settlement brokerage in Orlando, Florida, which has issued a new briefing on how these policies are evaluated and sold.
The briefing is designed to demystify the life settlement process, in which an existing policy is sold to a third party. That buyer then assumes responsibility for future premiums and collects the death benefit when the insured individual passes away. Rather than canceling a policy for its cash surrender value, a policyholder can potentially unlock a higher payout by selling it on the secondary market.
Citizens Life Group focuses specifically on high-value policies, pairing personal representation with competitive bidding among institutional buyers. In a life settlement transaction, the broker works on behalf of the policy owner—preparing the policy for review, soliciting and negotiating offers, explaining terms, and guiding the deal to completion. The ultimate decision to accept or reject an offer remains with the policyholder.
One of the more notable aspects of the firm’s process is its centralized submission system. In 2026, a single application can place a policy in front of 20 institutional buyers. Citizens Life Group packages the case and manages all submissions, meaning the owner is not required to apply to each buyer individually. However, buyer interest is not guaranteed; a submission does not ensure an offer will be made.
So what actually determines the sale price of a high-value policy? The answer is more nuanced than the size of the death benefit. A policy’s death benefit—the amount paid when the insured dies—is distinct from its sale price. Cash surrender value, meanwhile, is what the insurer would pay if the owner cancels a policy that has built up cash value. A life settlement offer is what a buyer is willing to pay for the policy, and that figure can vary widely.
According to the Texas Department of Insurance, two key factors drive settlement pricing: future premiums and the insured person’s life expectancy. A larger death benefit alone does not dictate market value. Citizens Life Group’s policy valuation guide breaks down how coverage, premium costs, age, and health all influence a buyer’s assessment.
“When someone is weighing a large premium payment, the next due date can become the whole decision. We want the owner to know what the policy may be worth before giving up the coverage,” said Jeff Hallman, Managing Director of Citizens Life Group.
The process itself involves several steps. Citizens Life Group reviews policy information and helps secure an in-force illustration, which is the insurer’s projection of future policy values and premiums. With the proper authorization, the firm assembles policy and medical documents for buyer review. It also coordinates buyer questions and negotiates competing offers to help maximize the seller’s payout. Before authorizing submissions, owners should understand how their personal information will be shared.
For those unfamiliar with the mechanics, Citizens Life Group’s broker guide details the work involved from policy review through closing. The Financial Industry Regulatory Authority, or FINRA, also advises sellers to understand transaction costs and to shop around for offers. FINRA’s life settlement guidance additionally outlines the potential consequences of completing a sale.
There are important caveats to weigh before moving forward. Owners should consider whether their beneficiaries still need the coverage before selling. A sale transfers both ownership and the right to the death benefit to the buyer. Proceeds from a settlement may also be taxable. Citizens Life Group recommends consulting a tax professional before a sale and notes that it does not provide tax advice.
About Citizens Life Group
Citizens Life Group is a licensed life settlement brokerage based in Orlando, Florida, that represents the policy seller and shops policies competitively to a network of institutional buyers. Its lead broker, Jeff Hallman, is a Florida licensed life agent (line 0214) with an appointed viatical settlement broker authority (line 0266). The firm and its affiliated brokers are licensed in the states where they operate, and sellers can contact them to confirm availability in their state. There is no upfront cost to a seller, and any commission is paid from the settlement proceeds and disclosed in writing before the seller agrees to anything. More information is available at https://www.citizenslifegroup.com.
This release is educational and is not financial, tax, or legal advice. Fiduciary duties and licensing rules vary by state. Individual results vary, and not every policy qualifies or receives an offer.
Jeffrey Hallman
Citizens Life Group
+1 321-270-0279
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