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The Benefits of Having Inflation Protection When Considering Long-Term Care Insurance

Updated: Dec 19, 2022


A long-term care insurance policy is designed to help cover the cost of care someone may need for a future extended care event. That care includes helping those receive home care services or care in facilities like assisted living or nursing home. As like items such as groceries or gas that increase in cost year after year, so does the cost of care. Its very likely the cost of care will be much higher by the time we need to receive care so It’s important to consider adding an inflation protection rider to the plan when purchasing a long-term care insurance policy.


Having inflation protection rider to a long-term care insurance policy helps grow the benefits each year so by the time you need to receive care, their will be more money available to help cover the cost of care. Another reason to have inflation protection to a long-term care insurance policy is making the policy Partnership Qualified. Partnership Qualified means your long-term care insurance policy meets the state requirements in being part of the partnership program.


If you use all your policy benefits and still need long-term care services, you can apply for Medicaid while protecting a segment of the assets that could be at risk of being spent down to meet eligibility requirements. Owning a partnership-qualified policy allows you to protect one dollar of personal assets for each dollar your long-term care policy provides in benefits.


There is no one size fits all long-term care insurance policy, which is a positive considering that you want something that fits your needs specifically. There are a variety of coverage choices, in which the inflation protection is customizable. At the same time, you can choose from multiple inflation riders which can help with premium. You’ll be able to select an inflation percentage, or how much your benefits increase each year, in addition to an inflation duration, the length of time your benefits will continue to grow.


Contact LTC Genie and Request a Quote. Find out how much leverage in coverage you could have available by adding inflation protection to the plan. Questions? Email or call us and speak with a licensed agent.


LTC Genie Insurance Agency info@ltcgenie.com 800-422-9443

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