“When LTC planning takes an unexpected turn”

“When LTC planning takes an unexpected turn,” by Mary Sizemore, InsuranceNewsNet

“As a financial professional, you will inevitably cross paths with a client who is ineligible for an LTCi policy. When applying for traditional LTCi, almost 40% of individuals between the ages of 65 and 69 and more than 45% of those over age 70 are declined for coverage. In the past, these clients didn’t have many other options. Today, however, clients who waited too long to plan or didn’t qualify for LTCi due to health circumstances have alternatives.

» Short-term care insurance. Short-term care insurance offers coverage for chronic care with simplified underwriting to individuals up to age 89. Short-term care has a shorter benefit duration (typically one year or less), which ensures premiums are more affordable than a traditional LTCi policy. STCi policies are flexible and typically cover care in the home, assisted living facilities and skilled nursing homes without requiring the policyholder to meet the 90-day certification that is typical for a traditional LTCi claim.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Short-term care insurance receives too little attention. Here’s an exception. Click through to this article for additional options people otherwise ineligible for a LTCI policy may try.