Insurance Inflation Protection

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LTC:What is Inflation Protection?

By |July 22, 2020|Categories: Uncategorized|Tags: , , |

state farm long term care insurance rate increaseDo I need Inflation Protection?

It is no secret that there are high costs associated with long-term care today. Nursing home costs average between $80,000-$100,000 per year and the average duration of care is about 3 years. Take those to variables and you are looking at a potential $300,000 out of pocket expense, assuming you do not require care for longer than the assumed 3 years. In addition to this long-term care costs in general continue to increase at a 3%-5% rate per year! The issue[…]

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