Understanding the Inflation Protection in Long Term Care Insurance

The third type of inflation protection is optional

. It allows policyholders to purchase additional coverage at periodic intervals without reapplying and without evidence of insurability. Most plans come with 15% increase every three years. The additional coverage depends on the age and existing premiums. For example, an employee chooses this plan every three years, his or her premium will increase. Many representatives sweet-talk this option as surefire way to get more affordable policy since the premium increases over time. But the truth isit looks good, but it's definitely a bad idea.

Understanding the Inflation Protection in Long Term Care Insurance

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