When choosing rider options while buying Long Term Care Insurance policy, an Inflation Protection Rider is one of the most important riders to consider. There are four important Inflation Riders for different age groups. Depending upon your age choose one that works best with your Long Term Care Insurance policy.

The No Inflation Protection
For those 80 and older it would be more advantageous to buy as much daily benefit as possible instead of buying inflation protection. So the choice of not buying inflation protection may work best for people 80 and above. Consider buying the highest daily benefit you are able to afford.

Guarantee Purchase Option
The Guarantee Purchase Option comes with no upfront costs. Instead these costs are built in or have a minimal charge which is about 2%. With this rider comes the option to increase the daily benefit value once every two or three years depending upon the contract. The disadvantage of this option is the new age of the insured (every two or three years) influences the cost of each increase. This would be beneficial to people in their 70s.

Simple Inflation
The Simple Inflation Rider allows for an automatic increase in the daily benefit value by 5% every year. But this 5% increase in daily benefit value comes with a 40% - 60% increase to the premium. But this rise in cost of premium results in double the daily value benefit in 19 and a half years. This Inflation Rider is best suited for people in their 60s.

Compound Inflation
Many would agree that the Compound Inflation Rider would be the best option for those under the age of 60. With this kind of rider even though your premium may double the benefits you gain is well worth it. Usually Compound Inflation adds 5% to the daily benefit. In 14 and a half years the daily benefit doubles because the 5% daily benefit increase is compounded annually. It is very common to see compound inflation choices at 3%, 4% or sometimes even linked to the Consumer Price Index.

In all the above options, age plays an important factor in your choice of LTCI and Rider Options. Other equally important factors influencing your choice of LTCI and rider options are your finances, health and family situation.