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GWG Holdings Inc. Subsidiary Gets Life Settlement Provider License

GWG Holdings Inc., a specialty finance company in the life insurance secondary market, recently revealed that its wholly-owned subsidiary, GWG Life LLC was granted a life settlement provider license by the Georgia Office of Commissioner of Insurance, effective June 17, 2015.

The life settlement provider license, which was obtained after a comprehensive licensure process, allows GWG Life to purchase life insurance policies in the secondary market from owners residing in the state of Georgia.

GWG president, Michael Freedman stated, “We are excited to be able to give seniors in Georgia greater access to the secondary market for life insurance. With this license, GWG can offer them market value for their unwanted, unneeded and unaffordable policies to help pay for post-retirement financial needs.”

GWG is now licensed in 30 of the 42 states that require life settlement licenses, with applications pending in five additional states. This brings GWG’s reach to more than 96 percent of the U.S. population and helps further the company’s commitment to educating the public about life settlements and the financial benefits they provide to seniors who no longer want, need or can afford their life insurance.