MINNEAPOLIS, Oct. 05, 2015 (GLOBE NEWSWIRE) — Seniors in Colorado and Utah have a new option to maximize the value of their life insurance now that GWG Life, LLC (“GWG Life”), a leader in life settlements and a subsidiary of GWG Holdings, Inc. (NASDAQ:GWGH), was granted provider licenses in those states.
These licenses allow GWG Life to purchase life insurance policies in the secondary market from residents in Colorado and Utah, states that collectively have more than 2,780,000 individual life insurance policies, according to the American Council of Life Insurers. The licenses were granted by Colorado’s Division of Insurance and Utah’s Insurance Department.
“Aging Americans deserve to have every possible financial planning tool at their disposal, and we are glad that Colorado and Utah residents now have access to one of the most valuable options available – life settlements from GWG Life,” said Steve Sabes, Executive Vice President of Originations and Servicing for GWG Life. “We look forward to helping educate Colorado and Utah’s seniors about the tremendous opportunity life settlements provide.”
GWG Life is now licensed in 33 of the 42 states that require life settlement licenses, with applications pending in five additional states, together 98 percent of the U.S. population. This growing reach enhances the company’s ability to educate the public about life settlements and the financial benefits they provide to seniors who no longer want, need or can afford their life insurance.
About GWG Holdings, Inc.
GWG Holdings, Inc. (GWGH) is a specialty finance company and a leader in the life insurance secondary market. GWG, through its subsidiaries, purchases life insurance policies from seniors who no longer want, need or can afford their policies. Since 2006, GWG has purchased more than $1.7 billion in life insurance policy benefits and paid seniors over $291 million for their policies.
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