their home, have been touted by some as a painless way to fund nursing costs.

Age Concern is urging bankers look at the idea, although the charity's executive director Claudette Fleming admits it may not be the wished-for panacea.

She says: "It's an issue that keeps coming up because there are so many Bermudians who have their value in their homes and we will be dealing with it to see if it will be viable in Bermuda.

"It needs to be looked into in depth, and I think the time is now. It's at the forefront -- not just with the bankers but also insurers.

"But people are living longer so the banks are saying there should be some insurance against that happening.

"It would need facts and figures to know how many seniors would benefit.

"The concern the banking world has is that a senior might outlive the value of their home, by going through all the equity.

"The US and Canada has it. I have heard both sides of the coin. Some say it's not successful.

"The people who may need this probably would not be living in the big houses.

People are far better off living in their home environment -- studies have found this.

"But it's very costly to be looked after at home.'' And the sums don't look good for those who want to keep hold of their house while they go into a nursing home.

Ms Fleming said: "It costs $36,000 a year to stay in the average nursing home. The cheapest house is about $250,000.

"It would be under seven years before you have burned all the money up.''