Classroom 3: Reverse Mortgage

Reverse mortgage is a financial product that enables senior citizens (60 plus) to mortgage their real assets with a lender and convert part of the equity into tax-free regular income. This saves them from selling assets in their life-time. 

Reverse Mortgage and Insurance in India

Reverse Mortgage is not yet a big thing in India. And insurance companies role in this has been limited. India's largest life insurance company, LIC (Life Insurance Corporation) is now planning to enter the reverse mortgage space.