Reverse Mortgages and Long-Term Care:
The rising cost of health care is a major concern for many seniors. That’s because out-of-pocket costs of healthcare for a couple in retirement are expected to keep increasing for the foreseeable future. And if a senior needs to hire in-home medical assistance to age in place more comfortably, that figure could increase dramatically. Buying expensive long term care insurance or spending down retirement assets are options… but could expose seniors to financial risk.
But what is there was a way to cover health care costs using home equity? With a reverse mortgage, senior homeowners can unlock the equity in their home and use that additional cash flow in any way they choose. They can use the funds to purchase a long-term care policy or even fund a funeral trust. And if just one spouse needs home care, and the other wants to remain at home, the reverse mortgage can pay for that person’s care… without depleting their investment portfolio.
A reverse mortgage is a unique way to combat the high cost of health care. To find out more about this reverse mortgage strategy, call us today.
Whiteboard Videos for Financial Advisors, Loan Officers, Medicare Insurance and Reverse Mortgage
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