A viatical settlement is the sale of a life insurance policy by the policy owner before the policy matures. Such a sale, at a price discounted from the face amount of the policy but usually in excess of the premiums paid or current cash surrender value, provides the seller an immediate cash settlement. Similar to reverse mortgages, viatical settlements involve insured individuals with a life expectancy of less than five years. In countries with high health care costs (such as the United States), this is a practical way to pay extremely high health insurance premiums and other senior care expenses that severely ill people face. Some people are also familiar with life settlements, which are similar transactions but involve insureds with longer life expectancies (two to fifteen years).

Total Mortgage Expands Reverse Mortgage Program To Assist Growing Senior Population
Total Mortgage Services, a leading mortgage lender and broker, announced today it is expanding its reverse mortgage lending operation. This Reverse Mortgage Program, along with some of its lowest mortgage rates, will help more senior homeowners.

Seniors Have a New Resource to Research Assisted Living Housing Options
Assisted Living Facilities launches with a nationwide directory of over 40,000 state-licensed senior living communities. A senior care blog and Q&A area also offer helpful advice and information for elders and their families considering assisted living.

RetirementGiftShop.com Expands Retirement Gifts and Retirement Party Supplies More Retirement Poems, Retirement Gift Baskets, & Retirement Party
Just in time for the retirement season, RetirementGiftShop.com is adding more retirement gifts to its internet store and expanding several product lines including more retirement party supplies, retirement gift baskets, retirement poems and military retirement poems.

Pros and Cons of Reverse Mortgage Loans
Reverse mortgage loans are being touted as the ideal solution for older homeowners who may need extra income during their retirement years. On the surface, reverse mortgages seem to have no down sides. The homeowner receives a monthly payment from the bank, which allows them to remain in their home and pay expenses. There are no payments due as long as the homeowner remains in the home, at which time the loan is due and can be repaid by selling the home. A reverse mortgage loan agreement can seem like a godsend, but there are both pros and cons to reverse mortgage loans. A wise homeowner will do well to examine them carefully.

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