Citizens Life Group lays out 7 checks for seniors choosing a life settlement company

Citizens Life Group says seniors selling unwanted life insurance policies should focus on licensing, representation, fees, and competition rather than brand names. The Orlando firm published a seven-question checklist on June 9, 2026, aimed at helping policyholders and their families avoid pressure tactics and keep more of the policy’s value.

Why it matters: - Seniors who sell life insurance policies through the life settlement market may receive far more than a carrier’s cash surrender value. - The structure of the company involved can directly affect how much money the policyholder keeps. - The checklist is aimed at seniors and adult children who are comparing options in a market with very different business models.

What happened: - Citizens Life Group, an Orlando consumer-advocacy and education firm focused on seniors, published a plain-language guide on June 9, 2026. - The guide outlines seven questions seniors should ask before choosing any life settlement company. - The company says the checklist is based on evaluation criteria, not a ranking of specific firms. - Cole Hallman, managing partner of Citizens Life Group, said the key issue is less the brand name than how a company is structured and whom it represents.

The details: - Seniors should confirm that the company, or the broker it uses, is licensed in their state and verify that license directly with the state department of insurance. - Life settlements are regulated by state insurance departments, and 43 states plus Puerto Rico license brokers and providers, covering roughly 90% of the U.S. population. - Seniors should ask whether the company legally represents the seller or represents itself. - A licensed life settlement broker generally represents the policy seller and, in most regulated states, owes a fiduciary duty to that seller. - A direct buyer, also called a provider, buys policies for its own account. - Seniors should find out whether the policy is shopped to multiple buyers or whether only a single offer is presented. - A broker-run process can place the policy before multiple licensed buyers who compete on price. - Independent research cited in the guide found that a 2013 London Business School study of more than 9,000 policies showed sellers received roughly four times the surrender value through the settlement market. - Seniors should get every fee and commission in writing before signing anything. - Under most state life settlement statutes, broker compensation comes from settlement proceeds at closing and must be disclosed. - Seniors should watch for pressure tactics and preserve the statutory rescission period that most regulated states provide after a settlement closes. - That cooling-off period is commonly around 15 days and allows the seller to unwind the deal and return the money. - Seniors should make sure the company explains alternatives, including keeping the policy, using part of the death benefit while living, or surrendering for cash value. - Seniors should verify that the process is free upfront and that no application, evaluation, or processing fee is required to learn what a policy is worth. - Citizens Life Group says it offers free educational tools that include a glossary, a state-by-state licensing and rescission guide, a tax guide, and an explainer on how life settlements work.

Between the lines: - The checklist pushes consumers toward competitive bidding and away from one-off offers. - That framing favors broker-run auctions, which consumer advocates often see as better for sellers than direct-buy models. - The company is also trying to translate a regulated financial product into plain language for older adults who may be seeing life settlement marketing for the first time. - The guidance reflects a broader message: seniors should verify structure and incentives before they trust a company’s pitch.

What’s next: - Citizens Life Group says it will continue offering educational material to support the seven checks. - The firm points readers to its public materials and contact channels for more information. - The company says qualified policyholders are connected with licensed life settlement brokers who run competitive auctions across institutional buyers. - More information is available on the company’s website.

The bottom line: - For seniors considering a life settlement, the most important questions are not who advertises best, but who is licensed, who is paid, and who is working for the seller.