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本科毕业设计（论文） 英文文献 (此文档为word格式,下载后您可任意修改编辑!) 文献信息 标题: USING REVERSE MORTGAGES TO MANAGE THE FINANCIAL RISK OF LONG-TERM CARE 作者: Stucki, Barbara R 出版物名称: North American Actuarial Journal 卷: 10 期: 4 页: 90-102 页数: 13 出版年份: 2006 出版日期: Oct 2006 年份: 2006 出版商: Taylor Francis Ltd. 出版地: Schaumburg 出版物国家/地区: United Kingdom 出版物主题: Insurance ISSN: USING REVERSE MORTGAGES TO MANAGE THE FINANCIAL RISK OF LONG-TERM CARE Abstract: In recent years, more and more Americans are finding it difficult to save enough for retirement from earnings. These trends are troubling at a time when rising longevity places seniors at greater financial risk due to a chronic illness or disability. There is one bright spot, however -- housing wealth has continued to rise. Average home equity in the US increased more than 10% between 2003 and 2004. Little work has been done to examine the role of reverse mortgages in managing the financial risk of long-term care among older households. Here the researchers address this issue by examining the use of reverse mortgages to help impaired elders continue to live at home (termed aging in place). The article also identifies the potential links between reverse mortgages and long-term care insurance. This study focuses specifically on households where the youngest homeowner is at least age 62, since this is the minimum age to qualify for a reverse mortgage. 1. Introduction This sage advice of Benjamin Franklin highlights the fact that the basic strategy for ensuring retirement security has changed little over the past 200 years. The traditional formula is simpleaccumulate assets during ones working years and systematically draw down these assets after retirement. In recent years, however, more and more Americans are finding it difficult to save enough for retirement from earnings. The dramatic fall of the stock market between March 2000 and March 2001 exacerbated the problem, reducing personal wealth by an estimated $3.5 trillion in ju