Borrowers can choose to receive payments as a lump sum, line of credit or monthly cash advance.
The loan is paid back when the last surviving borrower dies, sells the home or permanently moves away. That's where the new perk comes in. There is a catch. Regulators also are working on details regarding how borrowers will prove that they are, in fact, purchasing long-term coverage. The content provided by this web site and its links is for informational purposes only and is in no way intended to render medical advice or professional services, or to be a substitute for medical consultation with a qualified professional.