Short-Term Care Insurance

Short-term care insurance is similar to Long-Term Care Insurance, as both products cover custodial care. However, there are many distinct differences between short-term and Long-Term Care Insurance. 

Short-term care insurance usually only covers one or two years of care. Policies are also often split; they either cover only in-home care or only facility care, but often not both. 

Another difference is short-term care insurance policies are usually cash indemnity plans. This means the policy will pay out the maximum daily or monthly benefit in cash when you're on a claim, regardless of the actual care cost.  

For more information, you can read our article explaining short-term care insurance.