Home Articles The 4 Solutions for Long Term Care: Short Term Care Insurance

The 4 Solutions for Long Term Care: Short Term Care Insurance

What does short term care insurance cost?

The cost is going to vary for short term care insurance based on your age and the policy you end up choosing. One great aspect about STC insurance is that it offers unisex pricing. With traditional long term care insurance, women cost more as they are more likely to live longer and utilize these services.

Below we have the prices for the two policies discussed above. They vary in price a bit, which is due to the offerings of each policy. Both have similar benefits for confinement, but they offer very different benefits for home health care.

With Policy 1, the home health-care benefits and maximum are separate from your use of facility care.

Policy 1 cost

With Policy 2, you can use the $100 daily and the $35,000 maximum for either facility care or home health care, but not both.  

Policy 2 cost

These numbers can be decreased or increased depending on the waiting period, benefit days, and how large of benefit you would like daily or monthly. Policies also vary in the way they pay for days. While some count by calendar days, others count by service days. This means that if you are staying at home, and you do not need someone to see you every single day,  this policy could be stretched out to pay for longer than a year.

Short term care insurance offers a great alternative to more expensive traditional long term care insurance. It gives your family protection from out of pocket expenses for a year so they can focus on getting your finances in place for if or when they take over paying the long term care bill. No matter what route you go, the most important thing is that you have some sort of plan in place. If you don’t, the people who suffer the most will be your family who have to do this last-minute planning

Listen To Finishing Well on Truth

Newest Live Episodes of Finishing Well are on The Truth Network

Finishing Well
Finishing Wellhttps://www.cardinalguide.com/finishing-well/
Retirement planning involves a lot more than just managing your money. This show is the complete guide to planning for and living in retirement, helping families finish well. Host Hans Scheil will discuss a new topic every week ranging from Social Security and Medicare to IRAs and taxes. Follow along each week by downloading the corresponding chapters below for free! New episodes air: Finishing Well Schedule on Truth Network
- Advertisment -

Recent Posts

05.14.21 Dr. Brown Answers Your Best Questions

The Line of Fire Radio Broadcast for 05/14/21.

Cherishing Your Spouse Every Day

Do you love your spouse, or do you truly cherish them? Gary Thomas encourages couples to make a daily effort to go beyond...

Gideon: Seeing God’s Strength (Part 1 of 2)

When life is easy, we may be quick to forget about God. What happens when we stop listening to Him and start relying on ourselves? Learn from Gideon’s experience as you study along with us at Truth For Life with Alistair Begg. Listen...

The Gospel for Busy People: Jesus Offers Second Chances

1 John 1:8 says, “If we say that we have no sin, we deceive ourselves, and the truth is not in us.” Given that...

Profile of a Good Shepherd

When Jesus asked his disciples. "Who do men say that I, the Son of Man, am?" Peter responded "You are the Christ, the Son of the living God." Jesus promised Peter that upon the Rock of that confession He would build His church.

The truth of who Jesus is empowers common man to speak the message that opens the doors of heaven to sinners. Join us to learn strong principles for godly living and reach new heights in our faith as we work our way through Peter's epistles—writings which evangelize the lost and instruct the church. Pastor Skip Heitzig guides us through First and Second Peter in the series Rock Solid.

%d bloggers like this: