Try: Inflation could seriously reduce the value of your long term care ltc insurance and the type of care you can afford 100 or 150 dollars a day may be adequate to cover the cost of ltc today but what about 20 years from now when buying ltc insurance consider adding an inflation rider that will help protect your future coverage against inflation buyers of ltc insurance are usually given the option of purchasing an inflation rider with the policy which typically provides that the daily benefit increases by a certain amount each year 5 percent a year for example depending on the policy the benefit will be increased by either a flat or compound basis inflation protection can significantly increase the annual premiums therefore the cost and benefit for the protection needs to be thoroughly analyzed although the rider increases premium costs it should benefit the purchaser if the coverage will not be used for several years a suggested rule is that if you do not anticipate using the insurance for 10 of 15 years it is probably helpful to purchase an inflation rider this can vary based on age health and overall circumstances check with your insurance provider about ltc insurance most major companies offer some type of coverage consider the amount of daily coverage that the policy covers and the specific details of the inflation rider if available contact several insurance providers and compare premiums and benefits so that you can make an informed decision that is the best for your specific circumstances

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*This information is listed as a Fact Sheet and is not explicitly medically licensed