Why might someone consider purchasing long-term care insurance?

Choosing to purchase long-term care insurance is primarily about preparing for the future needs that arise from chronic illnesses or disabilities. This type of insurance is designed to provide financial support for care that is necessary when individuals can no longer perform daily activities independently.

As people age or face severe health challenges, costs for long-term care, which may include assistance with daily activities, nursing home care, or in-home health services, can be significant. Long-term care insurance helps ensure that funds are available to cover these expenses, alleviating the financial burden on individuals and their families.

While other options in the question touch upon different types of coverage or financial planning, they do not specifically address the unique need for long-term assistance that arises from chronic health conditions or disabilities, which is the central purpose of long-term care insurance. Thus, selecting the option that focuses on funding for future chronic illnesses or disabilities accurately represents the primary reason to consider this type of insurance.