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). - From Wikipedia and other sources 5/2007Reverse Mortgage e-book Announced
Muskegon, Michigan (PRWEB) May 4, 2006 –- Reverse mortgages are one of the hottest tools around for enhancing retirement income. The National Reverse Mortgage Lenders Association (NRMLA) reports that March 2006 saw a record number of new reverse mortgages originated. This trend is sure to continue as baby boomers reach retirement age, many not having set aside enough savings to enjoy a secure retirement.
But as popular as reverse mortgages are, they are also complex and very costly loans in many situations. Put simply, reverse mortgages are not for everyone. A free 16-page e-book now available at www.reverse-mortgage-information.org, will help baby boomers nearing retirement, senior citizens looking for additional income, or children with elderly parents determine whether or not a reverse mortgage makes sense for them.
Based on his own family’s experience, author Tim Paul lays out seven specific questions that should be answered by anyone considering a reverse mortgage:
1.
Am I the right age for a reverse mortgage?
2.
How long do I expect to stay in my home?
3.
How long do I expect to live?
4.
How much additional income do I need?
5.
How much equity do I have and how much can I borrow?
6.
Have I considered other options?
7.
How important is it to me to leave an estate?
The book provides specific tips, resources, worksheets and other guidance for reaching answers to each question.
“Working through the questions and steps in this book will clarify the issues that are most important and prepare the reader to make an informed decision about a reverse mortgage,” Paul notes.
The free e-book, Is a Reverse Mortgage Right for Me? can be downloaded at http://www.reverse-mortgage-information.org/is-a-reverse-mortgage-right-for-me/. The book is also available for distribution.
Corporate information
Sagetips, LLC owns and operates websites providing independent information on specific personal finance issues including reverse mortgages (www.reverse-mortgage-information.org) HELOC loans (www.sagetips.com) and colleges savings reward credit cards (www.529rewards.com).
Press Contact: T.J. Paul
Company Name: Sagetips, LLC
Website: http://www.reverse-mortgage-information.org
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