“Long Term Care Insurance & Inflation”

Long Term Care Insurance & Inflation,” by Terry Savage, TerrySavage.com


“1. If you have an older Long Term Care Insurance policy and the premium jumps, ask an expert to evaluate your options, which may include giving up inflation protection or shortening the coverage period. But, if possible, don’t just drop your coverage, letting the insurance company have a windfall of the premiums already paid.

“2. Look into a new ‘combo’ life/long term care insurance policy, where premiums can never go up and where the coverage can never decline. With one large payment, or a series of payments over 5-15 years, you can lock in coverage <> a death benefit for your heirs if you die without using the care coverage.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

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