If you needed assistance with the activities of daily living, for example, eating or dressing, who would help you, would you be able to afford the cost of care? And, if you are thinking this is about long-term care insurance better take a look at this affordable alternative.

Here’s something that’s really been around for a quite a while, with its many characteristic qualities of long-term care insurance, that you may or may not have learned about or are aware.

One of the most common statements about long-term care insurance (LTCi) is “just can’t afford it.” But perhaps ask yourself, does “just can’t afford it” mean the cost of today’s premiums or that the cost of future care is unaffordable?

Whether or not an individual can or can’t afford long-term care insurance or whether an individual chooses not to buy coverage is a realistic factor.  And, many times an individual is left with feeling that the only affordable alternatives are:  1) wait and try to qualify for the government welfare program called Medicaid or 2) believe in the false notion that Medicare, an individual/family or a group health plan will take care of the bills.

So, what is the affordable alternative to long-term care insurance? How can a person reduce the risk and protect themselves from calamities?  It’s very simply, short-term recovery care insurance. It provides a bridge to help handle the needs of today and prepare for the uncertainty of tomorrow.

Read about what happened to Jane and Mary:

Jane is a healthy 43 year old who has saved $10,000 to use as a down payment on her dream home. Jane loves hiking and is always looking for more challenging trails to conquer. One day, while hiking a new trail, she loses her footing and falls several yards down a gorge. Her entire left side is severely injured, but with physical therapy, her doctors expect her to fully recover within six months. Jane is quickly discharged from the hospital and is now at home and needs help dressing, bathing, getting around the house, and getting to and from physical therapy while her husband is at work. Jane opts to hire a home health aide 10 hours a day, 5 days a week, at an expense of approximately $21 an hour, or $1,050 a week. This quickly adds up to over $25,000 during her six month recovery period. Fast forward to Jane’s recovery, she now has no savings to put toward her dream home and owes more than $15,000 in recovery costs. For around $45 a month, a short-term care recovery insurance policy would have covered the majority of her recovery expenses.

Mary is a 68 year old widow whose children live out of state. She had always been able to depend on her family for help, so when she was approached about long term care insurance years ago, she decided not to apply. Now, Mary finds herself unprepared for an accident or illness that could leave her needing some help getting through the day, even for a limited period of time. She doesn’t want to burden her family, doesn’t have an LTCi policy in place to help her with the expense of hiring someone, and purchasing an LTCi policy today is simply not in her budget. Short-term recovery care insurance may be the answer for Mary. For a very affordable premium, Mary can purchase an appropriate amount of coverage with this plan. It could cover her care expenses, giving her time to adjust to her situation and reach out to her support network during recovery without being a burden to her family.

Short-term recovery care insurance is designed to cover licensed home care, assisted living or nursing facility, and adult day care. Doesn’t this sound similar to long-term care insurance?

Here are some comparisons:

Short-term recovery care insurance can provide care for one (1) year or less; long-term care insurance provides care for one (1) year or longer. However, statistics show that most people will need this type of care for less than one (1) year.

Short-term recovery care insurance has a benefit period selection of up to 360 days with possible restoration of days to extend the benefit period; long-term care insurance has a benefit period selection of more than 360 days. Generally, more than 360 days is necessary for Alzheimer’s, Parkinson’s, etc.

The basic premise of short-term recovery care insurance and long-term care insurance is to cover health needs for recovery, rehabilitation, recuperation and convalescence care.

Short-term recovery care insurance is available for ages 18 to 85; long-term care insurance is available for ages 18 to 70.

What about the more common examples of a covered injury/illness or medical necessity in America?

Americans have 1.1 million heart attacks per year, most people survive and are able to return to work. However, only after a lengthy period of recovery, convalescence, or rehabilitation, which could require months.

Stroke victims are the most common example of people who need short-term recovery care insurance. They are particularly affected by lengthy recuperative and rehabilitation needs and are surviving at a greater rate, but the rate of incidence is up, particularly in the 40+ age bracket.

Hip and knee replacements are becoming quite common for patients under and over age 65. But, complications or recovery periods are also a factor in many cases.

In conclusion, short-term care recovery insurance is an affordable alternative!  What do you think?