Financial help for elderly people

July 11, 2016


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Though improvement in healthcare has increased the average lifespan of a citizen in most countries worldwide, there are limited opportunities for older individuals to be financially independent. While the funds and savings may be sufficient immediately after retirement, as the person will grow older, due to inflation or other factors like major medical expenses, they may find their savings insufficient. Home owners whose legal heirs are unable to help them financially in their old age, can utilize the large amount they have invested in purchasing the house they are living to get a reverse mortgage from a reputed lender, to reduce their financial worries.