Definitions for "Inflation Protection"
Keywords:  daily, rider, benefit, compound, care
Provisions in a health insurance policy that increase benefit levels to account for anticipated increases in the cost of covered services.
An option offered on some long-term care policies which can increase the maximum daily and lifetime benefits to combat inflation. The protection is generally 5% per year, but varies from policy to policy as to whether the increase is calculated at simple or compound interest.
Automatically raises the insured's coverage limits each year to adjust for rising prices in health care and long-term care services (inflation). Some companies sell this as added coverage while others may include it in their policies.
Keywords:  portfolio, rise, growth, portion, goods
Investing a portion of the portfolio in growth stocks or funds in order to keep up with the rise in the price of goods and services.