Questions: In view of increasing health costs in the future, most policies offer some sort of:
Standard Policy Exclusion
Benefit Eligibility Trigger
Daily Benefit
Inflation Adjustment
Transcript text: In view of increasing health costs in the future, most policies offer some sort of:
Standard Policy Exclusion
Benefit Eligibility Trigger
Daily Benefit
Inflation Adjustment
Solution
Answer
The answer is Inflation Adjustment.
Explanation
Option 1: Standard Policy Exclusion
A standard policy exclusion refers to specific conditions or circumstances that are not covered by an insurance policy. This does not directly address the issue of increasing health costs in the future.
Option 2: Benefit Eligibility Trigger
A benefit eligibility trigger is a condition or event that must occur before benefits are paid out under an insurance policy. While important, it does not specifically address the issue of rising health costs.
Option 3: Daily Benefit
A daily benefit is a fixed amount paid out each day for covered services. While this can help manage costs, it does not inherently adjust for future increases in health costs.
Option 4: Inflation Adjustment
Inflation adjustment is a feature in many insurance policies that increases the benefit amount over time to keep pace with inflation. This directly addresses the concern of rising health costs by ensuring that the benefits remain adequate as costs increase.