Potential of reverse Mortgage Loan as a Retirement Planning Tool in India
Published: 2012
Author(s) Name: Ashok Bantwa, Sumitkumar Acharya |
Author(s) Affiliation: MBA programme, Gujarat Technological University
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Abstract
The main objective of this research paper is to study the feasibility of reverse
mortgage loans as a retirement planning tool among Indian senior citizens and to
find the major challenges against the acceptance of reverse mortgage loan. The
paper includes SWOT, PESTEL and Five Force analysis by using secondary data.
It also includes a detailed market survey conducted by using primary data
collected from sample senior citizens. Developed countries are faced with severe
budgetary constraints in sustaining their current universal and liberal Old Age
Social and Income Security (OASIS) programmes. Developing countries are
slated to face acute problems in meeting the OASIS needs of their projected
population of the elderly. After the detailed research we found that retirement
planning done by majority of retired people is not adequate to satisfy their
current needs and majority of them are dependent on transfer from their
children as their current source of income. So there lies huge growth potential
for reverse mortgage loan in India.
Keywords: Longevity, Retirement Planning, Home Equity, Market Potential, Reverse Mortgage.
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