Inflation Rider

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jul 16, 2021

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Cost of living riders address the ever-inflating cost of care. Typically, they are stated as annual increases of 5% — either simple or compounded. If benefits start at $100 per day in the first year, under simple interest they will be $105, $110, $115, $120, $150 in the 1st, 2nd, 3rd, 4th, and 10th years, respectively. Under the option to compound, they would be $105, $110.25, $115.76, $121.55, $162.89 in the 1st, 2nd, 3rd, 4th, and 10th years, respectively.

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