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Reverse life insurance is a better option than reverse mortgage.



My grandmother passed away about a month ago. It’s okay though, it was a long time coming. She had Alzheimer’s for about a decade and it was so tough on my mother and grandfather that honestly the best thing for both my grandmother and them is that she moved on to a better place.

I have to be honest one of the toughest things on the family was dealing with all of the insurance companies and the government in regards to her healthcare. I mean as you can imagine my grandfather wanted to get her the best care but the best care is expensive. Excuse me the best care is astronomical. And the reason the best care in a great facility is astronomical is that these jerks know that usually insurance is paying for it so they can just charge whatever the heck they want. Just bill it to insurance right? It’s such a scam and such a shame what has become of the health care industry. But to be honest it is what it is.

My grandfather didn’t have to get into it but one of the things that he considered a life settlement. I did tons of research on this to keep him from doing a reverse mortgage. My mother did all of the research on my grandmother’s policy and myself being a finance major in college, actually helped her. My grandfather considered a reverse mortgage, but I told him that he needs to seriously consider this option and there’s a lot of things to know about reverse mortgage before going down that road. He never had to exercise either one of these options as my grandmother passed away, but with care costing what it did he just about had to make some difficult decisions.
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13 comments :

  1. Yes, when it comes to doctor/hospital the bills are astronomical! The splints for my wrists cost almost 200 bucks just last month, so I can understand.

    I'm glad that your grandfather didn't have to make such difficult choices, and I wish him well!

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    1. Gees, that is a lot of money for an office visit. Glad you're taking some time off that wrist.

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  2. Sorry about your loss. Those are some hard decisions and we have to do a lot of research as there are so many people out there who just want to take advantage of people to make a dollar.

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    1. it seemed as if we have to do research on everything now a day. Every time I want to buy something, thinking about something, I need to get to my internet.

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  3. I am clueless when it comes to this sort of thing, and I am glad you're able to prevent your grandfather from making that decision..Sorry for your loss!

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    1. Thanks! That's very sweet of you Mumsy.

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  4. So sorry for your loss. Even when someone is aging and ill, it's still hard on the families to lose someone they love. I'm not familiar with reverse insurance but know that reverse mortgage is definitely not a good option.

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    1. I haven't heard of it until now actually, and this is a great research subject isn't it?

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  5. Health care is so expensive. I learned this, as you know, from my recent hospitalizations. It's crazy wild how much it costs! I am sorry to hear about your family loss. I know that's sad even though you're expecting it. I lost my last grandparent last December. BTW, did I over look this week's T2Q?

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  6. I'm sorry about your loss. I can't believe that these insurance companies would make this time even more difficult for you. Keep your head up, things have a funny way of working out. Best of luck!

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  7. I don't know much about reverse life insurance and it should be a great area to find out more about. Thanks for the guest post!

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  8. It is very hard to visit a doctor these days.
    This is very good information though.
    I wonder when the husband will mention doing it.

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  9. I’m sorry that your grandmother suffered with alzheimer disease for so long, and I’m sorry for the loss your family is experiencing now. What has become so clear to me are two things - one, insurance is important and two, what kind of insurance you have is just as important as having it. I’m definitely going to have to find out more about reverse life insurance and reverse mortgages.

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