TA | July 31, 2008

Q: Is there really a short term health insurance policy that lasts three years? Wouldn't that be a long term policy?

A: Yes, there is a short term medical insurance called "Secure12x3" that can last for three years and yes, that is a long time for a health insurance policy. Overall, most health insurance policies purchased by individuals are surrendered by the owner in about a year. A guarantee of longer coverage offers additional protection. Most short term medical insurance polices are used to cover the gap between employer plans - typically less than six months.

Actually the Secure12x3 plan is a twelve month short term medical insurance that can be renewed twice after the first expiration date, for a combined continuous coverage period of three years. For this reason, and because of the strong reputation of the insurer and the administrator, this is considered the "Cadillac" of short term medical insurance. These policies can be issued online without any medical records or exam and typically cost much less than traditional long term health insurance plans. Because of the longer coverage guarantee, however, this policy is priced higher than most regular short term medical insurance and significantly more than the "Lite" policy listed below. See the article titled "Review of Secure12x3 Short Term Medical Insurance" for more information.

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