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| Adequate Daily or Monthly Benefit |
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Long Term Care services can be expensive. They may easily exceed $130 per
day in most parts of the country and in excess of $200/day in metropolitan
areas. It is important to be aware of the costs in your area when
selecting a daily or monthly benefit. Policies are usually designed to pay
based on either a daily or monthly benefit amount so it is important to
know the nursing home/assisted living/home health costs in your area.
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| Inflation Protection |
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Over time, the cost of services increase. Long Term Care services are no
different. For example, a nursing home that charges $130/day today will
charge $260/day in 14 years assuming a 5% growth rate. Inflation options
need to be selected the at time you apply for you r plan. Do not
under-estimate the power of compound interest. Inflation protection is
critical with long term care insurance to ensure your benefit amount
increases just as health care costs will certainly increase. Five percent
compounding or simple inflation protection is usually recommended.
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Adequate Daily or Monthly Benefit |
| Get A Quote |
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Supplement
