Inflation protection
Over time, the price of everything goes up, and long-term care services are no exception. In fact, the cost for long-term care services may even rise faster than inflation due to the high demand for services by the aging Baby Boomer Generation.
Make sure your coverage is protected against rising costs.
All Partnership-qualified policies must offer varying levels of inflation protection based on your age.
- Under 61 years old: You must purchase and retain some level of compound annual inflation protection. Insurance companies must offer you 5% compound annual inflation protection, but you can choose to purchase at a lower rate.
- Ages 61 to 76: You must purchase and retain some form of inflation protection, either compound or some other form, until you reach age 76.
- After age 76: Insurers must offer inflation protection, but you don’t have to purchase or retain it.
