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Is short term care insurance a good idea?

I have talked with an insurance agent and been approved for short term care insurance. I am 65 and in good health. I just haven't heard about it before and wanted to know if this is a good product. I was told by the agent that their company was the only one selling short-term care (versus long term care) in N.C.

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February 2016

Every situation is different, however it may be beneficial to attempt to set aside enough funds to cover any type of short term insurance that you would need, as an example an emergency fund. Generally it is recommended that an emergency fund of safe cash or other type of investments in the amount of 3 to 6 months expenses be set aside, for an emergency such as short-term needs. Again each situation is different but it may be more economical to just set aside enough short-term funds to avoid the short-term insurance cost.

February 2016