What is Reverse Care Insurance?
RCi is a first-of-its-kind funding solution for in-home care. It is positioned right in the middle of the two predominant forms of paying for in-home care – Long-Term Care Insurance and the Reverse Mortgage. Think of it as a way of financing the care you need today without encumbering your assets. Even if you qualify for a Reverse Mortgage it is often difficult to know if the cash flow from the transaction will be sufficient to cover your care needs into the future. With RCi you don’t have to deplete the equity in your home and you have the flexibility to increase care as needed. Because RCi is structured as a loan product, it also works for those who aren’t homeowners or who don’t qualify for a Reverse Mortgage.
By the time most seniors and their families start thinking about in-home care they are most likely not eligible for Long-Term Care Insurance. Even if they were, the long term care coverage varies widely between policies and is often difficult to collect on.