What is long-term care insurance?

Long-term care insurance is designed to provide coverage for the costs associated with chronic illnesses and disabilities that require ongoing care over an extended period. This type of insurance helps pay for services such as nursing home care, assisted living, in-home personal care, and other support that individuals may need as they age or when dealing with long-term health issues. Unlike typical health insurance, which often focuses on treatments for acute conditions, long-term care insurance specifically addresses the prolonged need for assistance with daily living activities due to a chronic illness or disability.

This coverage is essential as it helps protect individuals and families from the potentially high financial burden of long-term care services, which are not usually covered by standard health insurance or Medicare. Understanding this type of insurance is crucial for planning for future healthcare needs, making ‘B’ the correct choice.