What is typically a required feature in long-term care policies to protect policyowners?

Inflation protection is typically a required feature in long-term care policies to safeguard policyholders from the rising costs of care over time. As medical expenses and long-term care fees can increase significantly due to inflation, having this feature ensures that the benefits offered by the policy will continue to provide adequate coverage in the future.

This aspect of the policy is vital for maintaining the purchasing power of the benefits, so that individuals can access the care they need without facing financial hardship as costs rise. Policyholders are often encouraged to consider inflation protection as part of their planning for long-term care, as it helps ensure that their coverage remains relevant and sufficient throughout the years.

The other features listed, while beneficial in various contexts, do not directly address the critical need for adjusting to inflation in long-term care services. For instance, waiving premiums for life, guaranteed renewals, and spousal benefits are valuable features, but they do not specifically tackle the issue of escalating care costs that inflation protection is designed to manage.