Short term care
Short-term care insurance will cover the costs of a nursing home for a limited period of time. The exact coverage period will vary by policy, but is generally between 30 days and one year. Since short-term policies only offer coverage for a limited period of time, premiums are generally lower than long-term care policies. Short-term policies allow you time to make arrangements for long-term care.
People are living longer and longer these days, which is great news, but living longer means that there are more years in which there are risks of serious health problems. The cost of care could literally wipe out a person’s life savings. Unfortunately, ordinary health insurance policies and Medicare usually do not pay for short term or long-term care expenses.