Quick Answer
CPI-based inflation is an add-on for Long-Term Care Insurance policies that increases insurance benefits based on the Consumer Price Index (CPI).
Detailed Answer
CPI-based inflation is an insurance add-on for Long-Term Care Insurance policies. This option allows the insured individual's insurance benefits to increase based on the Consumer Price Index (CPI).
The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
When benefits increase based on CPI, they help the policy retain its value against inflation and rising care costs.
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