# Coventry life insurance financing and secondary market focus > Live situation record from CLSTR: https://clstr.news/situations/coventry-life-insurance-financing-and-secondary-market-focus > Updated: 2026-09-10T13:35:30.000Z. Sources: 9. Developments: 2. Coventry has expanded its financial operations through its LILY platform, which facilitates the conversion of life insurance-backed assets into investment-grade securities. The company reached a milestone of $1 billion in financing via its fourth asset-backed securitization since April 2025. In conjunction with its securitization efforts, Coventry is actively promoting secondary market options, such as life settlements, to help policyowners extract more value from existing coverage than standard cash surrender values. During Life Insurance Awareness Month, the company encouraged policyowners and financial advisors to evaluate the true worth of existing policies. CEO Reid Buerger noted that while Americans hold over $14 trillion in individual life insurance, significant amounts of coverage are surrendered or lapse annually. Coventry suggests that life settlements can serve as a more lucrative alternative to surrendering or lapsing coverage when a policyowner’s financial needs change. ## Timeline ### 2026-09-10: Coventry promotes secondary market options for life insurance policies Coventry encourages policyowners to explore the secondary market and life settlements as alternatives to surrendering life insurance policies during Life Insurance Awareness Month. 7 sources. https://clstr.news/cluster/coventry-promotes-secondary-market-options-for-life-insurance ### 2026-09-01: Coventry reaches $1 billion in life insurance-backed financing Coventry has surpassed $1 billion in financing via its LILY platform, which securitizes life insurance-backed assets for institutional investors. 2 sources. https://clstr.news/cluster/coventry-reaches-1-billion-in-life-insurance-backed-financing --- Cite as: Coventry life insurance financing and secondary market focus. CLSTR, https://clstr.news/situations/coventry-life-insurance-financing-and-secondary-market-focus