What is the primary purpose of a long-term care policy?

A long-term care policy is specifically designed to address the unique needs of individuals who require assistance with daily living activities due to chronic illness, disability, or age-related conditions. These activities may include bathing, dressing, eating, and mobility support. The primary purpose of the policy is to ensure that individuals can receive the necessary care, whether at home, in an assisted living facility, or in a nursing home, without incurring overwhelming out-of-pocket expenses.

Choosing this option reflects an understanding of the focus of long-term care insurance on helping policyholders maintain their quality of life and independence as they navigate the challenges posed by significant health issues related to daily living. This type of coverage is essential for managing the potential high costs associated with long-term care services, which are not typically covered by standard health insurance or Medicare.