Insurance Broker Discusses Inflation Protection
As an experienced certified Insurance Broker, I get questions regarding inflation protection. Inflation-proofing your long term care insurance is very important. Hopefully once you’ve obtained the insurance coverage you won’t need benefits for many years, but if you can imagine at just a 3% rate of inflation, the purchasing power of your money is cut in half in about 20 years.
You definitely want to add a cost of living adjustment rider on your policy, which means that your daily benefit amount would increase every single year and your premium would remain level.
Do you know what inflation protection is? Contact our experienced Insurance Brokers for advice.