Maple Life Financial has set up a program designed to buy a portion of the rights to large life insurance policy death benefits.

Maple Life, Bethesda, Md., says its new Flexible Life Exchange Program that will give policyholders over age 60 the ability to sell policies but keep some life insurance coverage without paying additional premiums.

The FLEX program will consider transferable universal life, variable life, universal life, second-to-die or term life policies with face amounts greater than $2.5 million, according to Maple Life.

The policyholders should have life expectancies of at least 2 years, and the policies should come from insurers with high financial strength ratings, Maple Life says.