Future Purchased Option (FPO)

A future purchased option is a form of inflation protection in Long-Term Care Insurance. This protection gives insured individuals the right to increase benefits periodically, helping policies match the increasing cost of care and retain their value over time. 

A future purchased option is also known as the Guaranteed Purchase Option (GPO). At most ages, this type of inflation option would not be partnership-qualified. 

The future purchased option guarantees policyholders the ability to add benefits without proof of insurability as long as the insured is not currently receiving benefits. In other words, you don't have to prove you're in good health to buy more benefits. 

Companies may allow individuals to increase benefits regularly, for example, every three years. In some policies, there is a limit on how many times you can decline to add more benefits. Once you've reached this limit, you won't have any future chance to increase your available benefits. 

For those who purchase more benefits, an additional premium is based on the age at which new benefits were bought.