GWG Holdings, Inc. (NASDAQ: GWGH) is a specialty finance company 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, according the company’s website (see here: www.investors.gwglife.com). SNNLive spoke with Jon Sabes, CEO of GWG Holdings, Inc. at the Growth Capital Expo 2015 in Las Vegas, NV.
“GWG is a specialty finance company engaged in the secondary market of life insurance. Effectively, we’re recycling life insurance that’s no longer, needed, wanted or affordable, and we’re recycling that life insurance into a fixed-income bond that we distribute through a wide network of independent broker dealers and financial advisors,” Mr. Sabes begins.
When asked where the company derives their product from, he explains, “We get our product from a variety of sources. Life insurance agents bring their life insurance policies to life settlement brokers, and often, our financial advisors who are raising capital through our fixed-income bond are finding policies for their clients and their community that can benefit from our services.”
Mr. Sabes goes on to explain that the policies are universal life insurance policies, the company’s business model, and where he sees the life insurance secondary market going. For more information about GWG Holdings, Inc., go to: www.GWGLife.com
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