Jon M. purchased his life insurance policy for estate planning purposes in 2006. However, as time went on, the premiums became more expensive and the family considered giving up the policy. Jon was familiar with life settlements and wanted to learn more about the various ways they could be structured. After his research, the family decided to sell the policy to GWG Life, LLC (GWG Life). They chose to keep $225,000 of the policy benefits instead of accept the surrender value of $39,000 from the insurance company. With this transaction, they were able to retain a portion of the benefits and be relieved of making further premium payments.