What is a potential drawback of not including inflation protection in long-term care policies?

Choosing not to include inflation protection in long-term care policies can lead to decreased coverage over time. Inflation protection is crucial because the costs associated with long-term care services are likely to rise due to inflation and increases in healthcare expenses. Without this protection, the benefit amount you initially secured may not keep pace with rising costs. As a result, policyholders could find that the coverage they have would cover significantly less care as time goes on, potentially leading to financial strain when they need services the most. This aspect highlights the importance of considering how future inflation can erode the value of insurance benefits, making it essential for policyholders to evaluate the inclusion of inflation protection in their long-term care plans.