GWG Life Teams with Long-Term Care Resources to Assist Seniors Facing Post-Retirement Crisis
July 06 2017 - 4:05PM
GWG Holdings, Inc. (Nasdaq:GWGH), the parent company of GWG Life,
announced it is partnering with Long-Term Care Resources to roll
out the LifeCare Xchange (lcx.gwglife.com), a suite of innovative
financial solutions that will help address the long-term care needs
of aging Americans.
Already a leader in the life insurance secondary market, GWG
Life introduced the LifeCare Xchange in 2017 to offer seniors
alternative uses for life insurance policies to address the costs
of retirement and long-term care. GWG Life specifically designed
the LifeCare Xchange in response to the issue of Americans’ failure
to plan for the cost of long-term care, one of the most potentially
devastating financial challenges families are facing.
“Failure to plan for long-term care is one of the hidden dangers
of retirement planning,” said Chris Orestis, GWG Life’s Executive
Vice President of Life Insurance Secondary Markets. “While 70
percent of Americans will use some form of long-term care during
their lives, Associated Press-NORC Center for Public Affairs
Research shows that only 35 percent have set aside money to pay for
long-term care needs. The LifeCare Xchange solutions provide a
solution to help pay for care at the time it’s needed.”
As a leader in the life insurance secondary market, GWG Life has
specialized in turning life insurance policies into assets that can
be used for a variety of needs in retirement. In creating the
LifeCare Xchange, GWG Life is focusing on retirement and long-term
care funding, eliminating premium payments, and in many cases,
providing a tax-free benefit exempt from Medicaid spend-down
requirements that can be used for health care and senior living
expenses.
Long-Term Care Resources (LTCR) is a national insurance agency
and marketing company dedicated to Long-Term Care Insurance and the
association member market. LTCR’s 650 affiliate-marketing partners
such as alumni associations, military groups, and professional
associations representing over 25 million Americans. Through LTCR’s
national network of LTC Specialists, clients are able to obtain
funding solutions for long-term care and compare multiple LTCi
plans from the top carriers in the market.
“We come into contact with a lot of people who are dealing with
long-term care issues within their families. The LifeCare
Xchange products provide us with additional solutions to help our
members and their families, and are an excellent fit in our new
family-focused LTCRplus program of funding solutions and services,”
said Rick Leonard, President, Long-Term Care Resources.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq:GWGH), the parent company of GWG
Life, is a financial services company committed to transforming the
life insurance industry through disruptive and innovative products
and services. The company has developed a new a suite of options
for the life insurance secondary market called LifeCare Xchange
(LCX). This new capability provides seniors with the exchange value
of their life insurance policies they can apply to long-term care
and other post-retirement needs. GWG Life seeks to further
transform the industry by applying proprietary M-Panel epigenetic
technology to disrupt traditional life insurance underwriting
practices. Since 2006 GWG Life has provided seniors over $418
million in exchange value for their life insurance and, as of March
31, 2017, owned a portfolio of over $1.4 billion in face value of
policy benefits.
For more information about GWG Holdings, Inc.
email info@gwglife.com or visit www.gwgh.com.
About Long-Term Care Resources (LTCR)
Founded in 1997, LTCR is one of the leading independent LTC
insurance agencies in the country and specializes in marketing
LTC insurance through partnering with organizations such as
professional associations, alumni groups, and small businesses. As
the Nation’s leading independent LTC Affinity Marketer, LTCR
partners with numerous affinity groups nationwide to offer real
value added LTC benefit programs for their members. Each program is
custom designed to offer group members stronger service with
affinity discounts and multiple carriers to meet a wide variety of
underwriting and product needs.
For more information about Long-Term Care Resources, email
eholtzman@ltcr.com or visit www.ltcr.com.
Media contacts:
Dan Callahan
GWG Holdings, Inc.
(612) 746-1935
dcallahan@gwglife.com
Lyndsey Newnam
G&S Business Communications
(919) 870-5718, x3177
lnewnam@gscommunications.com
GWG (NASDAQ:GWGH)
Historical Stock Chart
From Aug 2024 to Sep 2024
GWG (NASDAQ:GWGH)
Historical Stock Chart
From Sep 2023 to Sep 2024