Unfortunately retirement can often be marked by the onset of health problems and this can place extra financial stress on individuals and couples at a time when they are already adjusting to much smaller monthly incomes than in the past.

Equity release providers are aware of the implications that ill-health can have in old age and have therefore developed a particular type of equity release scheme for people suffering from health problems. An impaired life equity release scheme allows borrowers to gain access to a larger portion of the equity within their home than they would have otherwise been able to access.

This option is based upon the logic that ill-health will have an impact upon life expectancy. It also takes into account the needs of an individual who is sick may well be different than those who have good health. For a person with an impaired lifestyle due to illness they may wish to access equity to increase their enjoyment of life and their family whilst they can still physically manage it.

If you are suffering from ill-health you can use an online equity release calculator to estimate how much you may be entitled to release from the equity within your own home. These online calculators allow you to input various data and then provide a rough guide to how much you can expect to borrow. Should you prefer it is always possible to speak with the equity release providers directly so that you can explain your particular circumstances.

Regardless of your reasons for wanting a lump sum payment out of your house it is still important to thoroughly research all available options and also obtain a personal financial illustration for your equity release scheme. Do not allow yourself to be pressurized into making poor decisions because of financial stresses. Always seek professional financial advice before committing to any equity release scheme.