Riverwoods Company MAGA Ltd. Celebrates 40th Anniversary

MAGA Ltd., a Riverwoods-based company and one of the nation’s original Long Term Care Insurance specialty brokers, is celebrating its 40th anniversary this year.

MAGA Ltd. has been around for all but one of the years Long Term Care Insurance existed. It started in 1975 when founder Murray Gordon was convinced of its value and opted to leave a position as a sales director with a national insurance carrier to focus solely on LTCI.

He purchased a policy for himself and his wife shortly after at the relatively young age of 49. It came in handy when he suffered a stroke seven years later and was able to come back to work.

Now, Gordon, a Northbrook resident, is joined in the business by a pair of LTCI specialists, his son - Brian Gordon and his son-in-law, Peter Florek.

“So much has changed over time,” Gordon said. “The product and benefits are very different today.”

“Originally, LTCI was called ‘nursing home insurance,’ because that’s where most people would receive long term care,” recalls Gordon. “Today, LTCI is basically ‘anti-nursing home insurance,’ because it allows people to receive care in their home or in assisted living facilities.”