Home > Articles > Long Term Care Insurance Inflation Protection

Long Term Care Insurance Inflation Protection

Inflation protection is the most essential option every policyholder should include in their long term care insurance policy. Why is that so?

It is a type of benefit that increases the daily or monthly benefit amount as well as the maximum benefit amount, also known as the “pool or money” over time to keep pace with inflation and increased cost of long term care expenses. This means that although your benefits are increasing every year, your insurance premium does not automatically increase.

 

 

Here are some of the common inflation protection options:

•5% Compound Inflation Protection

•5% Simple or Equal Inflation Protection

•Future Purchase Option or Guaranteed Purchase Option (FPO or GPO)

•Consumer Price Index Inflation Protection (CPI)

•3% Compound Inflation Protection

•4% Compound Inflation Protection

 

Many experts recommend you contact an LTCi specialist to find out which inflation protection best suits your policy.

In layman’s terms, you should have a long term care insurance that will address the present cost of care. By enhancing your long term care plans with inflation protection, you will be able to deal with your future health care needs, without worrying about its costs.

Advertisements
  1. March 16, 2012 at 4:43 am

    With the help of comparison websites, you can undertake a quick comparison by getting quotes from different long-term care insurance companies.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: