Ever heard about a concept for homeowners called the Reverse Mortgage ?
 Well it has been around for a number of years and is promoted as the answer to your income problems using your home as the source of funding.
 Sounds pretty good -get income from your homes equity while staying put and enjoying what you have paid for already.
 For some people , it is the answer to their dreams , but for some it could be creation of a nightmare if they do not understand the way it should be used .
 Specifically , the reverse mortgage rates are higher than conventional mortgage rates and there are fees and penalties attached if you want to pay the loan off earlier.
 Another thing is that the equity you have built up in the home is being eroded by the loan and if the value of the home does not continually go up ,you could lose out eventually.
 Some people are not using the program properly and just paying off other debts with the funding thus causing the debts to just move to another spot in the program .In short , your paying your debts in an expensive way and not really using it as planned .
 As for the estate , the debt on the home could cause the equity to be reduced to the point that little is left and the heirs may be not getting what was intended by the homeowner.
 Of course , like all financial plans , options and future goals along with the needs of the owner must be considered and thus other routes should be looked at.
 For instance , lines of credit could be obtained at a lower rate and with limited or no cost .Insurance could be tapped for cash values and estate planning . One could also just sell the larger house and turn the equity into financing a lower cost lifestyle or a smaller home ,thus eliminating even looking at a loan altogether.
 In summary , one must be sure that just because someone is pushing the idea of using your home to earn income , it makes more sense to have an advisor give you the pros and cons of each option so you can make an informed decision .

As someone who continually tries to seek solutions for other peoples financial security concerns , I sometimes neglect to make sure my own needs are met.
Having made a major adjustment in my own life , and being responsible for my son alone, it made sense to review my own coverage to protect his future if something should happen to me.
Being that I am a supporter of being independent as much as possible and looking after those close to you , it was vital that funding was available to my son to protect his education and living expenses.
With this understanding , I looked at additional insurance protection for myself to be put in place while I was still healthy and could afford the coverage amount needed.
Luckily , my health was still intact and additional coverage was put in force with a large carrier I use to give me solid protection at a reasonable premium. Now my son is secure .
From this action , my need to protect my most important asset(me) is taken care of and my son will not have to worry about being left without an education or a place to stay.
To conclude ,insurance in this case was the only quick solution to meeting my families needs .It has been there for many clients and if needed, will be there for my family too.

Having tried to provide my blog with some thoughts on topics that may be of interest to everyone , I have decided to refocus my writing towards what I do best -and that is provide valuable information on the need to protect what you own and be prepared for the unexpected.
In otherwards , rather than ramble on about anything that comes to mind, I will attempt to give you insight into how my services and experiences in dealing with my clients can help you understand what the insurance world is like and how it affects everyones life at sometime.
Thankyou for being patient .