GWG pays seniors an amount that is often 10 times more than the policy’s cash surrender value.
MINNEAPOLIS, MN (PRWEB) February 17, 2016
GWG Life, LLC (GWG Life), a leader in the secondary market for life insurance, has released a new infographic that explains how life settlements can be a financial life saver for retirees and seniors. For the estimated 10,000 Americans over the age of 65 retiring each day, a life settlement is a valuable option for retirement planning and wealth management.
An estimated one in five adults over the age of 65 faces rising debt and healthcare costs, including increased premiums for universal life insurance policies.
GWG Life’s infographic, Throwing Seniors a Financial Life Saver, illustrates how life settlements can turn life insurance policies that seniors no longer need, want, or can afford into income for long-term care, vacation getaways, or other expenses.
“Most seniors don’t know their life insurance is an asset that can be sold to support their retirement planning and wealth management,” said Michael Freedman, President of GWG. “GWG pays seniors an amount that is often 10 times more than the policy’s cash surrender value – and, on average, GWG pays between 5 to 8 times the surrender value.”
Other key highlights in the infographic include:
- One in five adults over the age of 65 skips doctor visits and prescription refills due to high out-of-pocket costs.
- U.S. consumers own $11.4 trillion in face value of life insurance benefits.
- $639 billion in insurance benefits lapsed or were surrendered in 2013.
- Through life settlements, policy owners have received more than $5 billion above the cash surrender value offered by their insurers.
The Throwing Seniors a Financial Life Saver infographic can be downloaded at http://www.gwglife.com/latest-news/seniors-sell-life-insurance-policy.
About GWG Life
GWG Life, LLC (“GWG Life”) is licensed as a provider in all states that regulate the secondary market for life insurance, except in AK, LA, MT, ND, NH, NJ, NV, and VT, licensed as GWG Life USA, LLC in IN. GWG Life’s services, including life and viatical settlement contracts, can be a valuable alternative to lapse or surrender. Only intended for residents in states where GWG Life is authorized to purchase life insurance policies.
For more information about GWG Life, email info(at)gwglife(dot)com or visit http://www.gwglife.com.
Sr. Vice President – Marketing