Nobody knows when they are going to need care. The possibility of needing long-term care due to an illness or physical disability is something most people would rather not think about. As we get older, and because we are living longer, the likelihood that we will need some kind of assistance is very real. It is time to stop procrastinating and put a long-term care plan in place even though you may not begin receiving benefits for 20, 30 or in some cases 40 years.
Without inflation protection, the difference between what your policy will pay and the actual cost of each of long-term care is likely to be significant. There are some exceptions that 5% inflation protection not be selected. These options may depend on a person's age along with the advice of a Long-Term Care Specialist.