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MINNEAPOLIS, Aug. 02, 2018 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq:GWGH), the parent company of GWG Life, announced it is partnering with the senior care franchise system Amada Senior Care. This new partnership will give Amada’s clients access to GWG Holdings’ LifeCare Xchange (lcx.gwglife.com) to help pay for their long-term care needs.
“We are pleased to partner with a quality organization in Amada Senior Care, and to introduce their clients to the LifeCare Xchange,” said Chris Orestis, GWG Life’s Executive Vice President of Life Insurance Secondary Markets. “The LifeCare Xchange was designed to provide an answer to the failure-to-plan crisis facing seniors and their families by creating alternative uses for life insurance policies, including covering the costs of retirement and long-term care.”
The two firms are dedicated to finding solutions for seniors in their post-retirement years. In creating the LifeCare Xchange, GWG Life began focusing on turning life insurance policies into assets that can be used for retirement needs, including a tax-free benefit exempt from Medicaid spend-down requirements that can be used for health care and senior living expenses. This coincided perfectly with Amada Senior Care’s mission of working to ensure seniors are aware of all available options to fund their care needs.
“As we have helped seniors across America navigate the complexities of the senior care system we have looked for partners who are creating innovative solutions,” said Tafa Jefferson, CEO of Amada Senior Care. “The LifeCare Xchange provides eligible seniors with a range of funding options they might not otherwise know about that can address the high costs of retirement and long-term care.”
Jefferson founded Amada Senior Care in 2007 with long-time friend and company president Chad Fotheringham. The pair began franchising in 2012 with a focus on providing quality care, choice, innovation and professionals within the home care industry. Over the last six years, the organization has formed a strong national presence, with over 100 locations in the United States.
Already a leader in the life insurance secondary market, GWG Life introduced the LifeCare Xchange in 2017 to offer seniors alternative uses for life insurance policies to address the costs of retirement and long-term care. 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.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq: GWGH) is a financial services company transforming the life insurance industry through innovative products and services. The Company was founded to earn non-correlated returns from life insurance assets and create opportunities for consumers to obtain significantly more value for their life insurance policies from the secondary market compared to the traditional options offered by the insurance industry. The Company is extending its business in the life insurance industry through the application of advanced epigenetic technology. Since 2006, the Company has provided seniors over $498 million in value for their life insurance and owns a portfolio of $1.76 billion in face value of policy benefits as of March 31, 2018.
About Amada Senior Care
Amada Senior Care is committed to enriching lives. We provide nurturing, compassionate non-medical in-home care and guide families through the many senior housing options available for assisted living. We also offer expertise in handling long-term care insurance claims and in certain forms of government aid, including Veterans Aid and Attendance Benefits. Headquartered in San Clemente, Calif., Amada was founded in 2007, and is currently assembling an elite team of franchise partners to expand our business on the national level. For more information, visit AmadaSeniorCare.com.
Dan Callahan, Director of Communication, 612-746-1935