Exhibit 21

List of Subsidiaries of GWG Holdings, Inc.

As of March 27, 2020

Name	State or Other Jurisdiction of Incorporation or Formation
GWG Life, LLC	Delaware
GWG DLP Funding IV, LLC	Delaware
GWG Life Trust	Utah
GWG MCA Capital, Inc.	Delaware
GWG Life USA, LLC	Delaware
FOXO BioScience, LLC	Delaware
The Beneficient Company Group, L.P	Delaware
Beneficient Company Holdings, L.P.	Delaware
Beneficient Capital Company, L.L.C.	Delaware
Beneficient Administrative and Clearing Company, L.L.C.	Delaware
Ben Markets Management Holdings, L.P.	Delaware