Which of the following best describes the purpose of long-term care insurance?

The purpose of long-term care insurance is primarily to assist individuals in covering extended personal care needs. This type of insurance is designed to provide financial support for services that assist with everyday activities, such as bathing, dressing, and eating, which are often required when individuals face chronic illnesses or disabilities. Long-term care insurance is crucial for helping pay for care received at home, in assisted living facilities, or in nursing homes, enabling individuals to maintain a certain quality of life and independence while managing their health-related needs.

In contrast, options that refer to short-term hospitalization costs, comprehensive medical coverage, or life insurance benefits do not accurately capture the specific function of long-term care insurance. These other types of coverage serve different purposes and do not address the extended personal care that long-term care insurance is specifically meant to support.