Financial Security in Sickness and in Health

As Americans enjoy longer life expectancy, they must also plan for long-term care (LTC) costs associated with aging. This paper explores how the federally-backed Home Equity Conversion Mortgage (HECM) line of credit can be used either to fund LTC insurance or as a more flexible, lower-cost alternative to LTC insurance. Included are scenarios showing how home equity can be leveraged to meet healthcare needs in retirement.