You may be wondering, “Who is GWG Life?” Over the past decade, we have emerged as a trusted leader in the highly-regulated life insurance secondary market. Through our LifeCare Xchange program, you can help your senior clients Xchange their life insurance policies for four valuable solutions to meet their unique needs in retirement and for long-term care needs and more:
• INCOME: Supplement retirement funds for life with an Immediate Income Annuity.
• PROTECTION: Maintain partial policy without premium payments with a Retained Death Benefit.
• LTC BENEFITS: Cover home care and senior living expenses with a tax-free Long-Term Care Benefit.
• LUMP SUM: Enhance income with a Cash Payout.
We’ve helped hundreds of seniors by paying out over $418 million* for their policies, compared to the $30 million* they would have received if they had surrendered their policies. That’s millions of dollars that puts choice and opportunity back into the hands of your clients.
*GWG Life Portfolio 2006-2017
Most clients don’t even know what a valuable asset they have in a life insurance policy. It may sound like a new idea to Xchange a policy for other funding solutions, but the opportunity has existed since 1911. That’s when the U.S. Supreme Court ruled that life insurance can be sold like any other property in Grigsby v. Russell.
The ability to provide retirement funding and/or eliminate expensive premiums without having to abandon a valuable asset are just the tip of the iceberg. Over 850,000 individuals are spending $145 billion per year in long-term care and 33% of that being funded through self-pay by seniors or their family members. Along with the tough standards to qualify for Medicaid, the opportunity to consider a LifeCare Xchange could be an important option for seniors and their families.
The life insurance secondary market is highly regulated and offers many consumer protections, including:
GWG Life, LLC, a wholly owned subsidiary of GWG Holdings, Inc. (Nasdaq: GWGH), acquires life insurance in the secondary market from consumers who no longer want, need or can afford their policies.
GWG Life is also a leader in Insurtech (insurance technology) and continues to disrupt the life insurance industry by applying epigenetic technology to its business of Xchanging life insurance policies.
Visit gwgh.com to learn more about our parent company, GWG Holdings, inc.