GWG Life Teams with Broadtower to Launch National Educational Program to Benefit Seniors Facing Long-Term Care
June 07 2017 - 8:30AM
Broadtower Insurance Solutions®
(www.Broadtowerinsurance.com) is teaming with GWG Life
(www.gwglife.com) to launch a National Educational Program to
promote options for seniors facing long-term care.
GWG Holdings, Inc. (Nasdaq:GWGH), the parent company of GWG
Life, a financial services company committed to transforming the
life insurance industry through disruptive and innovative products
and services, announced it is partnering with Broadtower Insurance
Solutions to roll out a national education and outreach program,
featuring the LifeCare Xchange, a suite of innovative financial
products that will help address the long-term care needs of aging
Americans.
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 products provide a solution to help pay for care.”
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 has focused on long-term care,
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.
Orestis and other GWG Life experts, along with Broadtower
personnel, will begin an agent training tour covering over 40
cities across the country. They will train agents on how to talk to
clients about their needs and the possible sources they can use to
pay for the needs of their clients and loved ones. Among the
products is a medically underwritten single premium immediate
annuity or SPIA, created for seniors over the age of 70 that
provides income for life.
“There is an enormous need for products serving this
demographic,” said Ron Hagelman, President of Broadtower. “The
number of Americans needing long-term care will continue to grow as
the Social Security Administration reports that 10,000 baby boomers
will reach retirement age daily for years to come. It is important
we introduce innovative solutions today to help those who failed to
plan.”
As part of the national training initiative, GWG Life and
Broadtower plan to create a non-profit educational organization to
help insurance agents have these conversations with families and
provide information for the general public.
About Broadtower Insurance Solutions®
A new standard in long-term care insurance planning and
distribution is now available to marketing and sales organizations
of any size. Broadtower Insurance Solutions raises the bar of
excellence beyond the competition’s reach. We provide our members
with industry leadership, insights and knowledge, top level access
to the best in long-term care insurance planning solutions,
products and insurance carriers. Step-up to new opportunities in
long-term care insurance distribution.
To learn more about Broadtower please visit:
www.broadtowerinsurance.com.
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. Already a recognized disruptor in the life insurance
secondary market, GWG Life seeks to further transform the industry
by continuing to create innovative products and services. As of
March 31, 2017, GWG Life's growing portfolio consisted of over $1.4
billion in face value of policy benefits. Since 2006, GWG Life has
purchased over $2.4 billion in life insurance policy benefits and
paid seniors more than $418 million for their life insurance.
For more information about GWG Holdings, email info@gwglife.com
or visit www.gwgh.com.
Media Contact:
Lisa Navarro
Marketing Communications Coordinator
(949) 225-7157
marketing@broadtowerinsurance.com
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