Short Term Care: A Solution for Clients with Health Issues
"Information is liberating." - Kofi Annan
Welcome to The Insurance Experts, your weekly spot for planning stories and strategies that matter to you and your clients.
- Click Subscribe above to be notified of each free edition
- Message me if you'd like to be interviewed for a future Newsletter
- Visit www.buddyins.com to help your clients with insurance planning
Watch this episode's video:
Not all states currently allow short term care insurance. The short term care contractual guarantees, premium rate stability, and benefits may differ depending on the carrier and product. Please be sure to consult with a short term care expert.
The days of limited options for enhanced care planning are long gone. There are now many affordable options that can ease the financial burden of care, including options available for those who may not qualify for long term care insurance.
In this video, we talk to Barb Stahlecker, a short term care specialist. If this is your first time hearing about short-term care, you are not alone. It’s an emerging market in the insurance industry. With nearly 40 years of experience, Barb walks us through the concept of short term care, when it’s appropriate, and illustrates why it’s an affordable alternative.
With nearly 40 states approving some form of short-term care products, the market has definitely taken shape as a strong solution for those who may be health impaired and unable to qualify for long term care insurance. That means that clients facing serious health issues – especially at older ages – may be able to use short term care insurance on the front end of their long term care plan.
The most surprising aspect of this type of solution is its affordability. Premiums can be as low as $100 per month and provide a benefit that could cover 360 days of care. That gives the family time to plan for other care options, if needed.
Watch the short video to hear the story of how one New England couple in their 70’s ended up with short term care and lots of peace of mind. Even if they have a longer term care event, having it covered for the first year or two will be a great benefit to their family.
Want to Learn More - Visit BuddyIns
BuddyIns is a community of client-centric long term care insurance specialists. We are dedicated to helping financial professionals and their clients across the country with customized LTC planning solutions.
1. Health Insurance: Small Business, ACA & Short Term 2. Medicare: Supplement, Advantage & PDP plans. 3. Life. 4. Long-Term Care. 5. Supplemental ? Not seeking employment, recruitment, or leads.
5 年This was a great option for my parents that bought a LTC policy in the 90's without HHC. This will give them immediate coverage and allow them to stay in the home for a year and prepare for a facility. Minimizing the assisted living facility and providing them a solid HHC benefit filled the gap for them and it was very affordable at 80 and 83 when they bought.
Principal @ Lavine LTC Benefits | CLTC Certified
5 年Short term plans should be approved in 'all states.'? In addition, people who own LTC benefits but have service days and waiting periods should own a short term care plan to pay for care and to satisfy the service or calendar day to activate their hybrid or traditional plans.?
Long term care insurance specialist. Consultant. Group long term care insurance. Podcast host. Legislative working groups NAIFA and NABIP.
5 年Go Barbara!