Expert Column
Duane Lipham 
CLTC
Duane Lipham is a Certified Long-Term Care (CLTC) consultant who writes extensively on long-term...read more
Articles In This Column
- Do You Really Need Long-Term Care Insurance?
- Does Your State Have A Long Term Care Insurance Partnership Program?
- Buying Long-Term Care Insurance: What Is the Best Age to Purchase?
- Your Long-Term Care Insurance Plan: How to Find an Affordable Policy without Sacrificing Coverage
- Top 8 Facts About Long-Term Care Insurance in 2009
- How Long Will You Have To Pay Long-Term Care Insurance Premiums?
- The Underwriting Process: How the Price of your LTCI Premiums are Determined
- Long-Term Care Insurance: The Application & Underwriting Processes
- Why You Could Be Declined For Long-Term Care Insurance
- The Advantages of Long-Term Care Insurance for Couples
- No Long-Term Care Insurance? Read This!
- LTCI: Does Automatic Inflation Protection Guarantee Against Rate Hikes?
- A Sneaky Secret About Long-Term Care Insurance Premiums
- How to Identify a Partnership-Qualified Long-Term Care Insurance Policy
- State Long-Term Care Partnership Programs: An Overview
- The Most Common & Expensive Long-Term Care Insurance Mistake
- Preserve Your Long-Term Care Coverage with Inflation Protection
- Long Term Care Insurance: How to Choose the Best Elimination Period
- Do You Really Need All Those Long-Term Care Insurance Options?
- Are Tax-Qualified LTCI Policies Consumer Friendly?
- Choosing the Long-term Care Insurance Company That’s Right for You
- Tax Benefits for Long-term Care Insurance: What You Qualify For
- How Do You Select A Daily Benefit For Long-term Care Insurance?
- Which is Better: Individual Long-Term Care Insurance or Group Plans?
- Preparing for the High Cost of Long-Term Care
- When Should You Consider Buying Long-Term Care Insurance?
- The Facts: What Medicaid Pays for Long-term Care
Financing Long-Term Care
Comments For "How Do You Select A Daily Benefit For Long-term Care Insurance?"
This makes it a lot easier to figure out what could be a complicated process.
Can I change my daily benefit in say, five years, to combat inflation?
Yes Michele, you can always increase your daily benefit later on. But in most cases it will require you to go back through underwriting again to prove that you are in reasonably good health and not expected to go on claim very soon.
However, if you choose a daily benefit that is line with facility care in your area at the inception of the policy and then select an inflation benefit that helps you keep current with rising care costs, you probably will not have to make any daily benefit adjustments on your own later on.
Duane