As the cost of living in America continues to rise, seniors face challenging financial decisions regarding retirement. Increased medical costs, loss of real estate equity and uncertainty about future income have become an overwhelming concern for many. This new reality requires careful planning and consideration of alternative financing solutions to meet the needs of older adults.
If you have a television, you have probably heard that reverse mortgages are a valuable financial option. However, very few people are aware of a similar concept that utilizes the built up equity in a life insurance policy. Instead of using your home as collateral and leaving your family burdened with debt in the future – you can now access the hidden value of your life insurance policy and use the funds to pay for retirement or whatever else you choose. Just like real estate, jewelry or stocks…life insurance can be sold for cash at a fair market value.