Using a reverse mortgage loan as an insurance policy

With interest rates poised to rise, the time to take advantage of a HECM is now

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Q: "Can seniors insure themselves against running out of money?"

A: If they have significant equity in a home they occupy as their principal residence, the answer is "yes," the HECM reverse mortgage administered by FHA can be used for this purpose. (HECM stands for home equity conversion mortgage.)