Short Term Care Insurance
Why Short Term care?
1. You may not be able to afford the cost of LTCI (long term care insurance).
2.You may not have enough assets to warrant LTCI
3.You may not have enough income to warrant LTCI
4. You may not qualify for LTCI due to pre-existing conditions.
5. You may not be a candidate for LTCI because of questions on your state's "Suitability Form"
Patient stays in nursing homes (discharged days)
68% are THREE MONTHS OR LESS
76%are SIX MONTHS OR LESS
83% are TWELVE MONTHS OR LESS
1. 50 to 70% lower in price than Long Term Care Insurance (LTCI)
2.Less strict underwriting - simplified issue
3. No "Suitability Form" required
4. Plans available from 180-270-360 days of coverage
5. Not limited to "Skilled Care" - covers all levels of care in a nursing home
6. Issue ages may be available from age 18 to age 85
7. Benefits available from $50 to $300 per day
8. Benefit triggers include Medical Necessity as well as Cognitive or help with ADL's
9. Possibility of Assisted Living, Home Health Care, and Spousal Discount riders
10. You select the benefits to meet your budget and needs
11. Level Premiums - Your premiums cannot be raised because of a change in your age or health
For some folks Long term care insurance might be too expensive. Short term care insurance has become more and more popular and may be something you should look into.