Is the inflation protection needed when availing for LTC insurance?

[JohnMurphy]

What is the name of your state (only U.S. law)? WA

Hi! I am just a newbie here. In all honesty, I am a bit unversed when it comes to legal related matters. So please bear with my inanity. What would be the consequences if I haven't included it on my plan? I am aware that I am a bit absurd; even I've read some of the planning guidelines on a website called infolongtermcare.org and all related sites, but I can’t fully absorb all those profound descriptions.

I am still hoping that someone from here could help me out explaining the inflation protected bond in a simple and brief thought. Thanks in advance.

 

[FlyingRon]

You'll have to read the policies. If the policy has a hard dollar amount cap, then you'll have to see if that limit makes sense in the light of the difference in today's prices versus when you might use the policy benefits. If the policy indexes for inflation, that solves some of that calculation worry. If the plan covers specific services without a price cap like saying they'll pay for 180 days in an approved facility, then they've already built that calculation in.

 

[JohnMurphy]

Thanks!

Got it! Thank you very much! I should think now whether to get or not.