Do you talk to your clients about Retirement Plans? Long-Term Care Costs? Estate Planning?
Life Insurance is an asset that should be included in financial rebalancing conversations. It is a more versatile asset than you or your clients realize and it can be exchanged for living benefits to use today.
The LifeCare Xchange® powered by GWG Life, may be the perfect solution for your clients who are looking to financially rebalance their assets to better suit their plans for their senior years.
Through LifeCare Xchange®, GWG Life offers a better way to Xchange life insurance.
Client no longer needs to pay premiums.
We have simplified the process to make it as quick and easy as possible to Xchange existing life insurance for a different type of solution. One that better meets the current needs of your clients.
2. After GWG Life qualifies the client and the policy, a formal offer will be made by GWG Life to the client.
3. Client receives the option chosen (income, protection, LTC benefit or lump sum), and agent receives referral fee.
Partial retained death benefit paid to beneficiaries upon passing of insur
Immediate Annuity pays $2100/month to client for lif
$3750/month tax free payment to care center for 5 year
Cash paid to policy owner now
*For illustrative purposes only.
Based on Face Amount, not offer chosen. Speak to a GWG Life representative for details. Call 1-855-713-9904.
Agents refer a policy owner lead directly to GWG Life using a simple lead referral form. GWG Life contacts the policy owner on the agent’s behalf to begin the health and policy review process. There are no requirements of the agent to gather medical records.
Minimum age of 70 with a minimum policy face amount of $100,000. The most common policy types are Universal Life and Term Life, but other policy types can qualify as well.
A Policy Xchange is designed for seniors with impairments, chronic, or terminal health conditions. Oftentimes, applicants will be nearing or currently in need of long-term care support and services. GWG Life will require a signed HIPAA release authorizing us to perform a tele-med interview and possibly review medical records. Again, there are no requirements of the agent to gather medical records.What types of policies qualify for the Xchange?
Many factors are considered when determining the value of a policy. But here are some general guidelines:
No, the Xchange value is based on the face value of the policy and the outcome of the medical underwriting. The Xchange value is determined by calculating the projected remaining life expectancy of the insured relative to the cost of keeping the policy in-force over that timeframe.
Millions of seniors across the country needlessly abandon their life insurance policies every year. For many, they either cannot afford to pay the premiums or they plan to lapse or surrender their policies to qualify for Medicaid. What they don’t realize is that they have the legal right to Xchange their policies into other living benefits.
Since 1911, the U.S. Supreme Court has recognized a life insurance policy as an asset and grants the same personal property protections as someone who owns a home. An insurance company has no legal basis to interfere with the transfer of ownership of a life insurance policy.g