Possibility of introducing reverse mortgage product in Malaysia

2018 ◽  
Vol 10 (3) ◽  
pp. 265-284
Author(s):  
Mohammed Ishaq Mohammed ◽  
Noralfishah Sulaiman
Keyword(s):  
Old Age ◽  
Sampling Strategy ◽  
The Elderly ◽  
High Income ◽  
Mortgage Market ◽  
Elderly Persons ◽  
Vision 2020 ◽  
Reverse Mortgage ◽  
Alternative Source ◽  
Content Type

Purpose The year 2020 heralds a landmark in Malaysia’s demographic and economic landscape, as the country is expected to become an ageing country, as well as aspiring of becoming a high-income country. The elderly persons are, however, reported to be vulnerable to the risk of financial insecurity in old age, which if not addressed can affect the country’s effort of accomplishing the Vision 2020 goal of becoming a high-income nation. Therefore, this paper aims to explore the factors that are capable of affecting the development of reverse mortgage market in Malaysia from the perspective of the financial service professionals. Design/methodology/approach The study is a qualitative design that involves the use of semi-structured questionnaire as data collection strategy. A total number of nine participants were selected for the interview using critical case sample scheme based on purposive sampling strategy. Findings The findings reveal that various economic, socio-demographic, behavioural and political/institutional factors would impose varying degrees of influence on reverse mortgage market in Malaysia. Originality/value The study is expected to spur discussion among stakeholders on the practicability of using reverse mortgage as alternative source of old-age financing in Malaysia.

scholarly journals The Covid-19 Effect on Security Mortgage Valuation

2021 ◽  
Vol 25 (1) ◽  
pp. 13-26
Author(s):  
Giovanna Di Lorenzo ◽  
◽  
Massimiliano Politano ◽  
Keyword(s):  
Interest Rates ◽  
House Prices ◽  
Gompertz Model ◽  
Mortgage Market ◽  
Elderly Persons ◽  
Home Equity ◽  
Reverse Mortgage ◽  
Mortgage Loans ◽  
Alternative Source ◽  
Cir Process

The reverse mortgage market has been expanding rapidly in developed economies in recent years. Reverse mortgages provide an alternative source of funding for retirement income and health care costs. We often hear the phrase “house rich and cash poor” to refer the increasing number of elderly persons who hold a substantial proportion of their assets in home equity. Reverse mortgage contracts involve a range of risks from the insurer’s perspective. When the outstanding balance exceeds the housing value before the loan is settled, the insurer suffers an exposure to crossover risk induced by three risk factors: interest rates, house prices, and mortality rates. In this context, Covid-19 has occurred and the insurer is faced with this additional source of risk. We analyse the combined impact of these risks on the pricing and the risk profile of reverse mortgage loans. We consider a CIR process for the evolution of the interest rate, a Black & Scholes model for the dynamics of house prices and the Gompertz model for the trend in mortality Our results show that the decrease in the mortality curve due to Covid exposes the insurer to higher risks once the shock is reabsorbed. The risk is higher the higher the age of entry. Only a significant reduction of the shock adjustment coefficient will return the situation to normality.

Living arrangements, coresidence preference, and mortality risk among older Taiwanese

2017 ◽  
Vol 6 (2) ◽  
pp. 192-204
Author(s):  
Wen-Shan Yang ◽  
Yao-Chi Shih ◽  
Yang-Tzu Li
Keyword(s):  
Mortality Risk ◽  
Living Arrangements ◽  
Living Arrangement ◽  
Elderly Care ◽  
The Elderly ◽  
Chinese Society ◽  
Elderly Persons ◽  
Content Type ◽  
Mortality Risks ◽  
Elderly Health

Purpose Although coresidence with children when one becomes old is an ideal in Chinese society, the drastic socio-economic development in Taiwan has brought some fundamental changes to living arrangements of the elderly population. The purpose of this paper is to examine the relationship between family living arrangements and elderly health in Taiwan, given the secular trend of more elderly persons choosing to live with their spouse or to live independently. Design/methodology/approach The authors utilized panel data from the “1989 Survey of Health and Living Status of the Elderly in Taiwan” with follow-ups up to 2007 to examine how living arrangements of the elderly affect the risk of mortality using discrete-time hazard models. The authors stratified the analyses by the elderly’s preference to coreside with children, and examined whether the effects of living arrangement varied by age, controlling for sociodemographics, health status, health behaviors, and social relationships observed at the baseline. Findings The authors found that both the associations of living arrangements and coresidence preference with that mortality risk were largely weakened when controlling for other variables. Only among respondents expressing preference for coresidence were living arrangements associated with mortality risks, and these effects increased with age. For those who did not intend to live with children, the authors found no evidence suggesting living arrangements were associated with mortality risks. The dynamics of living arrangements among the elderly and elderly care policies in Taiwan are discussed for further research. Originality/value To the authors knowledge, no previous research has examined living arrangements and mortality risks with respect to coresidence preference.

The social construction of violence in old age

2007 ◽  
Vol 9 (1) ◽  
pp. 33-38 ◽  
Author(s):  
Josef Hörl
Keyword(s):  
Social Work ◽  
Social Construction ◽  
Old Age ◽  
Scientific Community ◽  
Elder Abuse ◽  
Social Reality ◽  
The Elderly ◽  
Elderly Persons ◽  
Family Carers ◽  
The Social

Varying definitions and conceptualisations of violence in old age exist within and between the scientific community, medical and social work professionals, family carers and the elderly persons themselves. In this paper it is argued ‐ and illustrated by examples ‐ that each of the different actors or observers in this field construct their own social reality and hold selective perceptions of what is meant by violence in general, or elder abuse in particular.

scholarly journals PSYCHOLOGICAL PECULIARITIES OF DEMONSTRATION THE OPTIMISM IN ELDERLY PERSONS

2020 ◽  
pp. 33-40
Author(s):  
Horetska O.V.
Keyword(s):  
Old Age ◽  
Healthy Aging ◽  
Elderly Person ◽  
The Elderly ◽  
Elderly Persons ◽  
Coping With Stress ◽  
Psychological Constructs ◽  
Self Confidence ◽  
Life Path ◽  
Definition Of

Мета. У статті поставлено за мету розкрити сутність оптимізму як психологічного феномену, про-аналізувати його зв’язок з іншими психологічними конструктами, визначити психологічні особливості прояву оптимізму у людей похилого віку. Методи. За допомогою описового методу проаналізовано різні підходи до дефініції оптимізму; систематизовано наукові теоретичні й емпіричні дослідження цього конструкту; за допомогою методики Л. Рудіної «Тест на оптимізм» визначено рівень оптимізму, песимізму й надії людей похилого віку. Результати. Здійснено аналіз взаємозв’язку оптимізму з іншими психологічними категоріями. Наведено основні переваги оптимізму на життєвому шляху особистості. Зазначено, що оптимізм – здатність людини переживати надію на успіх, вірити у власні сили й можливості, турбуватися про себе та конструктивно долати перешкоди на шляху до досягнення мети. Описано психологічні характеристики людини-оптиміста й людини-песиміста. Розглянуто соціально-психологічні проблеми літніх. Надано результати емпіричного дослідження прояву оптимізму в людей похилого віку. Оптимістичні люди похилого віку більш щасливі, продуктивні, задоволені життям, упевнені в собі й у власному майбутньому, готові до нового, здатні прийняти себе і власний вік, більш успішно соціалізуються, мають певні цілі в житті та потрібні ресурси для їх реалізації, конструктивні копінг-стратегії подолання життєвих труднощів. У них загалом менше проблем зі здоров’ям. Песимістично налаштовані люди похилого віку гірше адаптуються до нового етапу життя, мають занижений емоційний фон і самооцінку, не прийма-ють старість, очікують найгіршого в майбутньому, почуваються розгубленими у стресових ситуаціях, невпевнені в собі, безініціативні, малопродуктивні, некомунікабельні, тривожні, бояться проявляти себе, вважають, що життя скінчено, проте набагато точніше, ніж оптимісти, здатні оцінити ситуацію та власні ресурси для її вирішення. У більшості респондентів встановлено переважання помірного песимізму. Висновки. Дослідження акцентує увагу на створенні необхідних умов посилення оптимізму в людей похилого віку задля благополучного старіння, позитивного прийняття себе та світу, формування впевненості в собі, віри у власні сили й успіх, планів на життя, ефективного подолання стресу, підтримки психічного й фізичного здоров’я. Ключові слова: людина похилого віку, оптимізм, песимізм, щастя, психічне здоров’я, благополучна старість. Purpose. The aim of the article is to reveal the essence of optimism as a psychological phenomenon, to analyze its connection with other psychological constructs, to determine the psychological peculiarities of optimism in the elderly persons.Methods. With the help of the descriptive method there have been analyzed the different approaches to the definition of optimism; there have been systematized the scientific theoretical and empirical researches of this construct; with the help of the method of L. Rudina “Test for optimism” there have been defined the role of optimism, pessimism and hope of the elderly persons.Results. There have been done the analysis of the relationship of optimism with other psychological categories. The main advantages of optimism in the personality’s life path have been given. It is noted that optimism is a person’s ability to feel hope for success, believe in own strengths and abilities, take care of themselves and constructively overcome obstacles on the way to achieving the goal. There have been described the psychological features of optimist and pessimist. The social and psychological problems of the elderly persons have been considered. The results of the empirical research of optimism in elderly persons are given. The optimistic elderly persons are happier, more productive, satisfied with life, confident in themselves and their future, ready for new, able to accept themselves and their own age, socialize more successfully, have certain goals in life and necessary resources for their realization, constructive coping-strategies for overcoming life’s difficulties. In general they have fewer health problems. Pessimistic elderly people often adapt worse to the new stage of life, have low emotional background and self-esteem, don’t accept old age, expect the worst in the future, feel confused in stressful situations, insecure, uninitiated, unproductive, uncommunicative, fearless, believe that life is over, but much more accurately than optimists they are able to evaluate the situation and own resources for its solving. The majority of respondents demonstrate a predominance of moderate pessimism. Conclusions. The research pays attention on creating the necessary conditions as for strengthening optimism in the elderly for healthy aging, positive acceptance of yourself and the world, building self-confidence and success, life plans, effective coping with stress, mental and physical health. Key words: elderly person, optimism, pessimism, happiness, mental health, prosperous old age.

Sleep Complaints Among the Elderly: Results From a Survey in a Psychogeriatric Outpatient Clinic in Brazil

1999 ◽  
Vol 11 (1) ◽  
pp. 47-56 ◽  
Author(s):  
Osvaldo P. Almeida ◽  
Sérgio Tamai ◽  
Regiane Garrido
Keyword(s):  
Old Age ◽  
Outpatient Clinic ◽  
Sleep Problems ◽  
Outpatient Service ◽  
The Elderly ◽  
Early Morning ◽  
Elderly Persons ◽  
Sleep Complaints ◽  
Falling Asleep ◽  
Sleep Difficulties

Background: Sleep complaints are frequent in old age. These difficulties are often associated with health-related problems, drug consumption, and the presence of mental disorders. Nonetheless, only sparse information is available on the clinical characteristics of elderly persons with insomnia. Aims: (a) To evaluate the prevalence of sleep problems among the elderly assessed in a psychogeriatric outpatient clinic; (b) to evaluate the association between the use of sleep tablets and sleep difficulties in this sample of patients. Methods: One hundred eighteen consecutive subjects were recruited from a psychogeriatric outpatient service in São Paulo, Brazil. Their sleep pattern was systematically assessed with the “sleep inventory,” a questionnaire consisting of 31 items that evaluate a number of sleep-related features. Clinical diagnoses followed the ICD-10 clinical descriptions and diagnostic guidelines. The number of drugs consumed by patients was also recorded. Results: Sleep complaints were highly prevalent (59.3%), with early morning awakening and nightmares being more frequent among patients with a depressive disorder. The use of sleep tablets was reported by 37.3% of subjects, and was associated with subjective sleep difficulties (odds ratio [OR] = 7.13, p = .008), difficulties falling asleep (OR = 7.33, p = .021), and frequent awakenings during the night (OR = 7.10, p = .040) in a logistic regression analysis. Conclusion: Sleep dissatisfaction is frequent among psychogeriatric outpatients. Subjects taking hypnotic drugs have more sleep-related complaints than those who do not. The clinical use of hypnotics may not be very effective for the treatment of sleep-related problems in the elderly. There is an urgent need for systematic prospective controlled studies to assess the efficacy and safety of the various forms of treatment of insomnia in old age.

scholarly journals Will the real “Mrs Smith” please stand up: a critical examination of the role of vignettes in integrated service development and delivery

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Thomas George ◽  
Michael Toze ◽  
Mo Ray ◽  
Owen Clayton
Keyword(s):  
Older People ◽  
Old Age ◽  
Service Provision ◽  
Social Care ◽  
The Elderly ◽  
Service Development ◽  
Critical Examination ◽  
Policy And Practice ◽  
Content Type ◽  
Health And Social Care

PurposeTo explore the use of fictitious vignettes representing older people and the extent to which they serve as an effective resource in developing service provision and transforming health and social care.Design/methodology/approachBased on a critical review of research and academic discourse.FindingsFictitious vignettes or case studies of older adults, such as “Mrs Smith”, may be a useful means to promote communication with and between health and social care colleagues about current services and transforming or re-organising service provision. However, we argue that while there may be a role for vignettes, care should be taken in their use. The potential to “homogenise” older people into the “typical” patient personified by Mrs Smith may do very little to challenge age- based stereotypes and assumptions. Moreover, vignettes cannot match the potential value and importance of older men and women directly participating in the evaluation and development of services.Practical implicationsThis article argues that changing the way services are organised and delivered must be underpinned by critical reflection of the assumptions which underpin attitudes towards old age, including our tendency to define older people by chronological age and to homogenise “the elderly” into a single group. The value of participatory methods which meaningfully involve older citizens in both evaluating and planning services could contribute significantly to innovation in service development.Social implicationsThis paper highlights the critical importance of challenging age-based stereotypes and ageist policy and practice. Recognising old age as being characterised by diversity and difference could challenge the tendency to see old age, especially advanced old age, as an inevitable problem.Originality/valueThis article offers a critical perspective on the use of vignettes.

The admission of the elderly to places of care: a socio-psychiatric community survey

1982 ◽  
Vol 12 (1) ◽  
pp. 159-168 ◽  
Author(s):  
L. S. Gillis ◽  
R. Elk ◽  
L. Trichard ◽  
K. Le Fevre ◽  
A. Zabow ◽  
...  
Keyword(s):  
Old Age ◽  
Emotional Support ◽  
The Elderly ◽  
Elderly Persons ◽  
Economic Problems ◽  
Social And Emotional ◽  
Age Related ◽  
Socio Economic Variables ◽  
The Many ◽  
Separate Population

SynopsisElderly persons over the age of 60 who were admitted for psychiatric care were compared with a random sample of persons living in the same community in respect of psychiatric, medical and socio-economic variables. The group admitted to hospital for psychiatric reasons was very similar to the latter in general characteristics. However, those people admitted to old age homes, which are the other major resource for psychiatric illness, constitute a distinctly separate population, being older and having considerably more physical illnesses and socio-economic problems. Factors predicting admission to an old age home were largely irremediable age-related conditions (dementia, physical infirmity, etc.), but there were also adverse social circumstances, including marked isolation and a lack of social and emotional support. A comparative analysis of the many psychiatric, social and medical factors is presented, with particular reference to reasons for referral and prevention of admission.

scholarly journals A Study of the Effect of Institutionalization and Spousal Bereavement on the Sense of Humor, Feeling of Alienation and Existential Regret in the Elderly

2015 ◽  
Vol 2 (3) ◽  
Author(s):  
Rohan Pillai
Keyword(s):  
Statistical Analysis ◽  
Old Age ◽  
The Elderly ◽  
Elderly Persons ◽  
Spousal Bereavement ◽  
Sense Of Humor ◽  
Measure Sense ◽  
Elderly Living ◽  
Old Age Homes ◽  
At Home

The present study was undertaken to examine the differences in sense of humor, feeling of alienation and existential regret between elderly persons who lived at home and those who live in old age homes, and between those elderly who had faced spousal bereavement and those who had not. Data was collected from 120 elderly persons aged 60 and above. 30 elderly from old age home, 30 elderly living at their residence, 30 elderly who have faced spousal bereavement and 30 elderly who have not faced spousal bereavement. The Multidimensional Sense of Humor Scale, The Dean’s Alienation Scale and The Multidimensional Existential Regret Inventory were used to measure sense of humor, feeling of alienation and existential regret respectively. Six t tests were used. After statistical analysis no significant differences were found in the sense of humor, feeling of alienation and existential regret between elderly living at home and those living in old age homes or between elderly who had faced spousal bereavement and those elderly who had not.

scholarly journals Predictors of subjective age and emotional health in the elderly

2015 ◽  
Vol 8 (3) ◽  
pp. 185-201 ◽  
Author(s):  
A.I. Melehin ◽  
E.A. Sergienko
Keyword(s):  
Mental Health ◽  
Old Age ◽  
Emotional Health ◽  
Later Life ◽  
The Elderly ◽  
The Self ◽  
Elderly Persons ◽  
Subjective Age ◽  
Factors Influencing ◽  
Age Estimates

This article describes the importance of the subjective age in understanding mental health in middle and old age. This phenomenon of positive illusions age estimates. Concretized the concept of emotional health. Presents the factors influencing the self-perception of age in later life. Within the framework of empirical research shows that elderly persons multikomorbidnost diseases, changes in emotional health are all factors influencing the subjective age and its components.

HOW DEPRESSED ARE THE ELDERLY PERSONS IN OLD-AGE HOMES? A PILOT STUDY IN AN OLD-AGE HOME OF SILIGURI

2021 ◽  
pp. 47-49
Author(s):  
Louis Tirkey ◽  
Ramanandi Ananya Jyotirmay ◽  
Suvajit Chakraborty
Keyword(s):  
Old Age ◽  
Severe Depression ◽  
The Elderly ◽  
Clinical Depression ◽  
Mood Disturbance ◽  
Elderly Persons ◽  
Cross Sectional ◽  
Prevalence Of Depression ◽  
Cross Sectional Design ◽  
Old Age Homes

INTRODUCTION: With the increasing trend of nuclear families in the society, the care of older persons in the families gets difcult and they are forced to shift to old age homes. There are lack of close family ties and reduced connections with their culture of origin, which leads to high risk of depression among olders. OBJECTIVE:Determine the Prevalence of depression among the inmates of old-age home and identify associated factors METHODS: Study type and design: 7 Observational study, Cross sectional design Study setting:The study was conducted in Aapnaghar old-age home of Siliguri, West Bengal (The old age home was chosen by lottery method). Study population:In-mates of Aapnaghar old-age home Study period: 2 months Sample size: All inmates of Aapnaghar old-age home was included by complete enumeration method; total 75 participants DISCUSSION:In Mild mood disturbance to borderline clinical depression, 28 (54.9%) patients were Male and 9 (37.5%) patients were Female. In Moderate to severe depression, 15 (29.4%) patients were Male and 15 (62.5%) patients were Female. Association of Gender vs Normal, Mild mood disturbance to borderline clinical depression and Moderate to severe depression was statistically signicant (p<0.0001). In Normal, 6 (42.9%) patients were married, 1 (4.2%) patients were unmarried and 1 (2.7%) patients were others. In Mild mood disturbance to borderline clinical depression, 7 (50%) patients were married, 19 (79.2%) patients were unmarried and 11 (29.7%) patients were others. CONCLUSION: In the current study, the BDI has been utilized to detect the prevalence of depression. Although it is not designed for diagnostic purposes, its epidemiologic utility has been evaluated in several studies. Depression was a common nding among the elderly in old-age home. These results could help to clarify the attributes of target populations for depression and provide insight to prevent depression among elderly

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