An Analysis of Affecting the Willingness of Reverse Mortgages Utilizations

Abstract

With population aging and the advance of medical technology life expectancy of the elderly has extended Taiwan is facing the challenge of the long-term care welfare policy and the economic issue because of aging population Therefore utilizing the 2017 Report of the Senior Citizen Condition Survey this paper investigates the possible factors that are correlated with whether the citizens know and will use reverse mortgages (RM) in the future By using a probit model we conduct the empirical analysis by including a series of controlling variables such as socioeconomic status other long-term care policy leisure activities and health status in regression This study finds that individuals with lower age male higher house price individuals with financial knowledge higher education level knowing the long-term care policy having the willingness to live in institutions listening to the radio and reading newspapers and magazines tend to know more about RM; individuals with lower age living alone with financial knowledge willing to use community long-term care services having the willingness to live in institutions tend to want to use RM Results also find that individuals with knowledge of RM tends to rise the willingness of utilizing it Findings suggest that government could prompt the Long-Term Care policy 2 0 and RM to older people in need

Date of Award	2020
Original language	English
Supervisor	Wei-Hua Tian (Supervisor)