This article describes new mechanisms to fund long-term care (LTC) using housing wealth. Most individuals will need long-term care at some point as they get older, and a house is often the largest part of a person’s wealth. In this article, which appeared in the November 2020 issue of Long-Term Care News—a publication of the Society of Actuaries—we describe new approaches to long-term care financing that rely on home equity release, and several of the challenges individuals face. We cover topics such as:
- Unlocking and financing housing wealth
- Product design and marketing
- Pricing and risk management
This article was published by the Society of Actuaries.