When they had four children at home, parents Nancy and John decided that life insurance was a good idea at that time in their lives. Nancy was the owner of the policy, purchased in 1995, and her husband John was the insured. Twenty years later, the children were grown and no longer required financial protection. In addition, John retired from his career. With less income, the couple felt the insurance premiums were an added expense. A friend told them about life settlements, and they discovered GWG Life, LLC (GWG Life) would pay them $72,000 for the policy—much better than the surrender value of $0.00 from the insurance company. Now they are free of premium payments and plan to keep the funds from the sale in their savings account.