“We will take care of each other until the end, regardless of how difficult it may get.” That is great and very loving; however, reality sometimes gets in the way. Many times during those last few days, weeks or months the spouse or loving family members simply cannot provide the level of care needed. “We looked at Long Term Care and cannot afford the premiums.” There is a solution that some carriers have created to help with the potential shorter Nursing Home stay or Home Care stay.
Long Term Care is great – but again, not everyone can afford the coverage. Some Short-Term Care carriers offer 90, 180 or 360 days of coverage in a nursing facility and/or in home care. Generally these plans cover the majority of Nursing Home care stays for any level of care, including custodial. Home care is also a vital part of these plans. Similar to Long-Term Care insurance, this type of coverage is designed to provide benefits if you have problems that result in physical or cognitive impairments that generally prevent you from performing normal daily activities such as bathing, continence, transferring, toileting, eating and dressing – generally referred to as “ADL’s” (activities of daily living). ADL’s are the things we normally do in daily living that we perform for our own self care.
Many people are living on a very small income and recognize the need for Long-Term Care insurance coverage but just do not feel they can afford the coverage. Because of the shorter benefit period, cost for the coverage is much lower and the underwriting (acceptability) is generally more liberal. Many people want to spend their last days at home. Many people have not accumulated a lot of assets and want to protect what they have for their loved ones.
Bottom Line: Short Term Care is simple to explain and easy to understand. All levels of care are covered – home health care, assisted living and nursing home care. Homemaker Services and Independent Caregiver Services are also covered. Unisex rates and Underwriting is simplified. Fast turnaround on policy issue!
If you are interested in additional information please email or call me and we can discuss!