An insurer is offering a new approach to long term care inflation protection.
John Hancock Life Insurance Company, Boston, a unit of Manulife Financial Corp., Toronto, says its new Leading Edge long term care insurance policy offers built-in compound inflation protection linked to the federal government’s Consumer Price Index.
“Every year on the policy anniversary, a policy owner’s benefit and total pool of money will be automatically adjusted according to the CPI,” John Hancock says
Hancock also is introduced a “5 Years Plus $1 Million Dollars” alternative to lifetime coverage.