Long Term Care: Short Term Care Insurance - YouTube

If you've ever considered long term care insurance or really the possibility of needing to pay

for somebody to come in and take care of you, you're going to want to hear about this today.

So today we're talking about short term care insurance, and you say "well what's that?"

Well, it's and alternative to long term care insurance, it just doesn't cover the care

for as long.

A couple of the highlights of short term care insurance is, first of all, it's easier to

qualify for, so you can have some preexisting conditions, you can have some chronic conditions,

they can't be overly serve, there are still some limits on who they're going to take on

this, but it's much more liberal than a traditional long term care insurance policy.

The one that we sell the most of, they don't even have a height and weight chart, so if

somebody that is quite a bit overweight, and that usually comes with some chronic conditions,

many times we can get them on one of these policies.

The other thing, it's less expensive than long term care insurance, is you're going

going to have to have something like your mortgage payment for long term care insurance,

the premiums are much smaller and you know you could say the disadvantages is that it

really covers up to a year of care, and you say "Well why would I want something that

short?"and what I'm going to tell you is it's going to solve a problem for your family,

cause it's really your family that bares the burden of you needing care, if you're like

me and you're going to need care at some point, I'm going to want to get that care at home,

I really don't choose to go to an assisted living or a nursing home, I mean sometimes

there is not a choice and you just kind of got to go there, but many times, and especially

in the modern times, times are changing, those same people that are in the nursing home,

if they had the proper cash flow and the proper access to resources for home health care,

they could get that same care and stay in their home.

I've been with a lot of folks that they're in their 80s and with the whole family and

somebody has a stroke or they have declining health or they have something that requires

care and it creates a crisis in the family and the kids come in from out of town if they

live out of town and we're all sitting there and we got a crisis and what are we going

to do with mom or dad, and then mom or dad rings in on the thing and if they're these

people who say "I'll just pay for it by myself out of my assets", it is really difficult

to get either the kids or the parent who's sick to come off of some of their money to

pay for these services for home health care and what an insurance policy like this is

going to do is give you 360 days of care if you do have to go into a facility or 52 weeks

at $1,200 a week that it's just going to send you a check every week for you to spend on

your mom or dad's care or your own care or for your kids to be able to do this.

It's much easier to get an older person to accept care and to accept the consequences

of needing care and paying for that, which is bringing in an outside professional help,

which is very expensive, if we're using the insurance companies money than it is to come

off of your own money.

It just seems to me in these situations that the more money people have, the more money

this elderly person has, the harder it is to get them to agree to and pay for that private

pay home health care.

I'm Hans Scheil, I've written a couple of books on these subjects, you can get them

at our website or you can go on Amazon and you can find my books, they're very helpful

on educating you about these.

I thank you for listening.