In its newest national TV campaign, American Advisors Group (AAG) brings several noted academic professionals into the conversation on reverse mortgages and retirement planning.
The new 120-second TV spot, which is the company’s first commercial following the death of longtime AAG spokesman, former U.S. Senator Fred Thompson, depicts the use of reverse mortgages as a viable retirement planning tool.
“The new AAG commercial sheds light on how reverse mortgage loans are becoming widely accepted by academics and experts as a versatile financial solution to help seniors achieve retirement security,” said AAG Chief Creative Officer Teague McGrath in a written statement. “At AAG our mission is to help educate consumers on the advantages of this powerful tool, and the experts’ confidence in the product provides valuable third-party credibility.”
The spot features noted academics David W. Johnson, Ph.D., associate professor of finance at Maryville University in St. Louis; and Barbara Howard, MBA, finance, MA, gerontology and adjunct professor at University of Bridgeport in Connecticut—each of whom emphasize the importance of a reverse mortgage loan as a flexible financial solution during a time when traditional sources of retirement income may not provide enough financial stability for today’s retirees.
“I think we’re facing a crisis,” Johnson says in the commercial.
“Two-thirds of American workers are saying they are not confident they will have enough money to live comfortably in retirement,” adds Howard.
Both Johnson and Howard are just two examples of outside industry professionals who have increasingly begun to take a closer look at how reverse mortgages can effectively fit into the retirement planning puzzle in recent months.
“I thought it would be wonderful if people could convert the equity they had in their homes into some vehicle to help fund their retirement and help fund long-term care expenses,” Howard says in the commercial. “Well, little did I know that the product already existed, and it was called a reverse mortgage.”
The TV spot also references the most popular discussion topic that has been garnering attention from the financial planning community: how homeowners can use a reverse mortgage standby line of credit when they need it most.
“I think there are so many different creative opportunities that people could use a reverse mortgage for that they haven’t even though of,” Johnson says. “I really think it [reverse mortgage] needs to be part of everybody’s retirement plan.”
The commercial is airing now and will run across cable and national networks, including ABC, NBC and CBS over the next quarter.
Written by Jason Oliva