These loans are available as a home equity loan (with one time payout in a lump sum) or as a home equity line of credit (structured like a credit card) With either option, you must have equity and the credit score to qualify.
During the payout phase, individuals can choose to receive a lump sum payment of all monies earned and invested, or there is the option of having fixed payments that are made over a specified period or indefinitely.
Sometimes seniors who already have life insurance choose to take an additional policy if the death benefit payout of their original policy is low and not enough to pay for funeral, cremation or burial expenses.
Fixed rate annuities are purchased for the long-term savings and allow you to lock in a certain rate at the time of purchase that you will continue to pay until the maturity date for the payout.
Keeping in mind that "reality TV" simply means that the shows are unscripted, Fear Factor adhered to its concept of having real people face tough challenges for a cash payout.