The secondary market for life insurance policies is robust due to senior citizens’ increasing need to fund long term care needs, said Michael Freedman, President of GWG Holdings. Freedman added that GWG is using the proceeds from its 2014 IPO to shop for policies. He said the stock has been struggling since its September offering most likely due to year-end tax selling from its small base of shareholders and should rebound, especially in the wake of the company’s successful $1billion bond offering earlier this month. Finally, Freedman said this is one of the most transparent and accountable senior financial services transactions in the U.S.
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