User:Rachaelcpowell/sandbox

User:Rachaelcpowell/GWG Life

About GWG Life
GWG Life, LLC is a financial services company that specializes in purchasing life insurance policies in the secondary market from seniors who no longer want, need, or cannot afford the policies. This process is commonly referred to as a life settlement. GWG Life applies epigenetic technology to the life insurance industry to develop predictable models for life expectancy.

GWG Life’s parent company, GWG Holdings, has an exclusive license for DNA [|Methylation]-Based Predictor of Mortality, a technology developed at UCLA to predict lifespans. As of March 2017, GWG began collecting saliva samples from policyholders to help gauge such predictions and analyze overall health. In addition to collecting epigenetic samples, GWG Life conducts phone interviews with policyholders and reviews their medical records and prescriptions.

CEO Jon Sabes states: “The technology could significantly improve the life insurance underwriting process in terms of its accuracy, speed and cost. I can clearly envision the day when life insurance purchasers will no longer be subjected to traditional invasive underwriting practices.”

Competition
GWG Life’s competitors include life settlement companies such as Coventry First, Magna, Abacus and Life Equity as well as traditional life insurance carriers. Traditional life insurance companies earn revenue from policyholders who voluntarily allow policies to lapse or turn over as opposed to GWG Life which ensures such policies pay out.