Short Term Care Insurance? Yes, it Exists.

We’ve all heard of Long-Term Care Insurance. It’s the type of policy you typically buy while you’re still relatively young. It is a payable benefit to cover the costs of indefinite care provided at either a skilled nursing facility or in-home caregivers provided by an agency.

But there’s new option in town, or at least in Rhode Island for folks who may want to recuperate at home and who may not need prolonged caregiving extending beyond 365 days.

The Short-Term Care insurance policy is available from Guaranteed Trust Life (GTL) Insurance Company headquartered in Illinois. The inspiration behind this new option is simple:

People would rather recuperate at home

Benefits are paid directly to you regardless of other coverage

Benefits can help cover deductibles and co-payments

Prior hospitalization is not required

There’s three tiers of daily benefit amount available, which we’ll assume can be based on budget and income. Typically, under Plan B a daily maximum of $150 can be paid for Nursing care at home. In lieu of additional coverage, we can typically assume this will cover four hours per day of in-home services. It’s not a flimsy benefit at all! While we were not able to determine the premium amount, if you’d like further information about this Rhode Island Short Term Care insurance offering, please call GTL directly at (800)-338-7452.