The concept of home equity conversion as a means to support retirement has a value so inherent that it defies geographic borders and crosses cultural lines. Around the world, countries are examining ways in which their citizens can access the equity they have worked so hard to build in order to finance their later years.

In this month’s feature story, Open Mortgage manager and noted finance author Dan Hultquist takes a look at reverse mortgage programs overseas. From the equity release program in the U.K. to the housing pension plan in South Korea, we learn how various models have been designed to meet the needs of senior consumers. Perhaps by examining the structure of other nations’ plans, we can better assess our own program and its ability to meet our seniors’ needs.

The fact that other nations have implemented home equity conversion plans drives home an important point: There is an undeniable need for this type of product. The ability to support oneself in retirement by tapping into hard-earned equity has great appeal.