The length of the reverse mortgage loan is partly determined by the disbursement option chosen, and funds can be disbursed in a number of ways. Proceeds may be provided through:
- A full or partial lump sum
- A growing line of credit
- Monthly payments (tenure or modified tenure plans available)
- Combination of any of these.
The choice is ultimately your client’s, but your American Advisors Group partner will educate you on how to guide your client through the disbursement option that is best suited for your client’s situation.