反向抵押年金在台灣推行的可行性研究

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Title:	反向抵押年金在台灣推行的可行性研究
Other Titles:	Feasibility study on reverse annuity mortgage applied in Taiwan 反向抵押年金在臺灣推行的可行性研究
Authors:	戴嶸釗;Tai, Jung Chao
Contributors:	淡江大學保險學系保險經營碩士班郝充仁;Hao, Chung-jen
Keywords:	反向抵押年金;房地產抵押轉換年金;房屋終身年金;Reverse Annuity Mortgage;Reverse Mortgage;Viager
Date:	2005
Issue Date:	2010-01-11 01:55:16 (UTC+8)
Abstract:	「反向抵押年金」或稱「房地產抵押轉換年金」(Reverse Annuity Mortgage),是一種擁有房產的老年人將自有房產之產權抵押給保險公司或金融機構，保險公司或金融機構對房屋的現值、將來增值及折損情況進行綜合評估，根據評估值與老年人的平均壽命進行精算，按月或年支付年金給投保的老年人，直到老年屋主死亡為止，而老年人在領取年金的同時，仍然享有居住權。等老年人死亡，保險公司或金融機構便可取得房屋的產權。主要功能在使擁有自有房產的老年人，能有另一種管道利用房地產來獲得養老基金，這種方式在國外已行之有年，在各國推行的各項案例來看，不乏許多成功的例子值得我們借鏡。無論「反向抵押年金」為政府或私人經營，皆需要龐大的資金予以支持才能正常運作，目前國內正熱烈討論的不動產抵押債權證券化或可解決此一資金問題。目前，美國已將「反向抵押年金」的抵押權以群組包裝成「住宅抵押貸款擔保債券」販售到龐大的資本市場，進而獲得大量的準備金，除可支付未處分房產前的年金支出外，更可設計不同的反向抵押商品，提供全國不同層次及需求的退休老年人更多的選擇。 The Reverse Annuity Mortgage, exclusively for the aged, is a house property mortgage to the financial institutions such as insurance companies or banks, who disburse a monthly or annual annuity to the mortgagers until they pass away and consequently have the right to receive the house ownership. The amount of annuity is determined based on the average length of the aged’s life and the appreciation and depreciation of the house value. The mortgagers not only can periodically obtain a fixed amount of the annuity, but also enjoy the living right of the pledge. These two privileges will be terminated upon the death of the mortgager. The main function of the Reverse Annuity Mortgage is to provide the aged, who has his/her own house property, with an old-age pension. This type of mortgage has been prevailing in some foreign countries for many years and the result has shown that it has profited many citizens after their retirement. Taiwan may also benefit from the valuable and successful experience of those advanced countries. However, no matter it is the government or the private sectors who operates the Reverse Annuity Mortgage, a substantial capital is highly required. The Real Estate Mortgage Securitization, a popular topic currently discussed in Taiwan, might be a feasible solution for the reserve appropriation. At this stage, some mortgagees in the States have designed a package product for the Reverse Annuity Mortgage and sold it to the vast capital market, in order to collect a sufficient capital to pay out the huge expenditure of the annuity and to design more package products for the Reverse Annuity Mortgage. As a result, a wide variety of product selection can satisfy the different levels of the retired senior citizens based on their needs and requirements.
Appears in Collections:	[Graduate Institute & Department of Insurance Insurance] Thesis

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