“Short-term care insurance is one of the best-kept secrets for men and women who have trouble planning for long-term care insurance,” says
Short term care insurance policies are available in many states. This special form of protection can provide similar benefits to traditional long term care insurance. While traditional long-term care insurance companies generally stop accepting claims after age 75, short-term care policies can be purchased until age 85.
“Police officers can pay for care at home as well as in specialist facilities such as nursing homes,” Slome says. “There are significant differences and even advantages that make it an option worth considering.”
The long-term care insurance expert notes that short-term care insurance policies are generally easier to qualify for health. “There are plans with just a few health-related questions,” Slome adds. “Many older men and women have existing health conditions that make them ineligible for traditional long-term care insurance. Acute care coverage can be exactly what the doctor ordered.
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According to Slome, short-term care insurance policies typically charge women the same premium as men. “This can be a significant benefit, especially for single older women,” he notes. Traditional LTC insurance policies typically charge women about 30-40% more than men.
The Association’s 1-minute primer provides an overview of the benefits of these policies. A map showing the states where the policies are available is included. Examples of prices for men and women aged 65 and 75 are shown.
To access information on short-term care insurance, visit the organization’s website at www.aaltci.org/short-term-care-insurance/. To obtain short-term care insurance costs from a short-term and long-term care insurance specialist, call the organization at 818-597-3227 or visit their website www.aaltci.org.
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