Experts disagree over the decision to purchase inflation protection when purchasing long term care insurance. This debate is brought to light on forbes.com in an article titled Should You Buy Inflation Protection for Long Term Care Insurance.
Inflation protection is expensive. It can easily raise premiums of your insurance by 50 to 100 percent. However, if you purchase coverage when you are in your 50s, you likely won’t need the coverage for 25-30 years. That means the cost of long term care services will rise for thirty years before you collect any benefits.
With the ever increasing costs of long term care services, it is estimated that an insurance plan that would initially cover 60% of services will only cover about one third of services thirty years later. Because of this, it is recommended to purchase inflation protection of at least 3% and more if you can afford it.