Reverse Mortgage - Offering Owner Lifetime Use of Home- Who pays insurance?

[William Coet]

Hello,

We would like to offer a homeowner a reverse mortgage and lifetime use of the home.  There is a good possibility there is no insurance on the house because it is owned outright and the owner may not care.

If we are paying the homeowner a reverse mortgage we will want to be sure it is insured.  How can we guarantee that it will be insured and what can we do it it lapses?

Thank you