In addition, long-term care insurance carriers must give people the option of buying coverage for adult day care and inflation protection. Inflation protection is important. All policies sold in Vermont must give consumers the option of purchasing inflation protection. Inflation protection ensures that your policy s daily and lifetime benefit limits increase periodically, in an effort to keep up with the rate of inflation. Without this feature, the value of the benefits you buy today will not keep pace with the cost of long-term care services in the future.
Policies vary widely from one long-term care insurance carrier to another.
It is wise to compare several policies before choosing one that meets your needs and your budget. On pages 6 through 8, you will find a list of long-term care insurance carriers selling policies in Vermont. Premiums are lower if you buy at an earlier age and when you are healthy. Initial premiums are based on your age and health at the time you buy the policy. If you wait until you need care, you may not be able to get or afford a long-term care insurance policy.