The American Association for Long Term Care Insurance (AALTCI) has responded to the recent upheaval in the long-term care insurance (LTCI) market by moving away from its traditional emphasis on the need for inflation protection.
AALTCI, Westlake Village, Calif., is running an LTCI insert in the current isue of Kiplinger's Personal Finance magazine.
Some carriers have left the LTCI market or LTCI market sectors in the past 12 months, and many carriers have increased their rates.
AALTCI suggests in the new insert that consumers might consider saving money if necessary by doing without the traditional 5% compound inflation protection option.
For some consumers, starting with a higher daily benefit may be a more affordable way to protect themselves against inflation, AALTCI says.