Total lifetime benefits. The benefit period is combined with the daily maximum to create the total lifetime benefits payable. The benefits may last longer than the chosen benefit period if care costs less than the available daily maximum. A very important consideration. This allows a policy to keep pace with the inevitable rise in the cost of care.
Premiums vary significantly with the type of inflation protection chosen.
Age must be considered when choosing this option as compound inflation is best suited for younger clients while older clients may benefit from a higher daily maximum. This is the length of time that you must privately pay before benefits are paid. It is similar to a deductible. Most companies offer elimination periods from 0 to 100 days and some to 180 days. Select only top-rated carriers with extensive experience.