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Long term care insurance policy and inflation protection

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  • Long term care insurance policy and inflation protection

    Is it recommended to buy long term care insurance with inflation protection benefit?

  • #2
    Re: Long term care insurance policy and inflation protection

    Yes, it's good to have inflation protection...

    The inflation protection rider pays off and one of the best features in LTCi.

    Although it add up to the cost of your long term care insurance premiums, the inflation rider protects you against the rapid increase in the prices of care. It compounds your benefits but the price of the policy remains fixed.
    When the world says, "Give up,"
    Hope whispers, "Try it one more time."
    ~Author Unknown

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    • #3
      Re: Long term care insurance policy and inflation protection

      Inflation protection is the most important option to have in a Long Term Care Insurance policy. This benefit increases the daily or monthly benefit amount over time to keep pace with inflation and increased cost of expenses. Even though your benefits are increasing each year, your premium does not automatically increase. So yes, having an inflation protection is very good.
      www.insurancebyjohn.com

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      • #4
        Re: Long term care insurance policy and inflation protection

        Absolutely! The policy benefits are expected to be claimed years in the future. What we have experienced the last few years with a rapid decline of the dollar should be evidence enough that inflation protection is definitely needed.

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        • #5
          Re: Long term care insurance policy and inflation protection

          Having LTC with inflation protection is a very good approach because only bad thing about LTC is that it is too expensive and having LTC with inflation protection cuts this risk.

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          • #6
            Re: Long term care insurance policy and inflation protection

            Having extra benefit is always an added advantage in life insurance so it is a good idea to get long term inflation protection insurance and it helps when the medical prices are at risk.

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            • #7
              Re: Long term care insurance policy and inflation protection

              Originally posted by thomasben2296 View Post
              Having extra benefit is always an added advantage in life insurance so it is a good idea to get long term inflation protection insurance and it helps when the medical prices are at risk.
              7 year old thread dips--t

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