Which of the following statements about long-term care insurance is TRUE?

Long-term care insurance is specifically designed to provide financial support for individuals who require assistance with activities of daily living (ADLs), such as bathing, dressing, eating, toileting, and transferring. This coverage is essential for people who may have chronic illnesses or disabilities that prevent them from fully caring for themselves. As such, the focus of long-term care insurance is not on acute medical treatment for diseases and injuries, which distinguishes it from typical health insurance policies.

The other statements present inaccurate representations of long-term care insurance. It does not solely cover home-based care, as many policies include services provided in assisted living facilities or nursing homes. Additionally, long-term care insurance is not exclusively available to those over the age of 60; younger individuals can also acquire this type of insurance, particularly if they anticipate needing future care. Thus, the statement about the assistance with daily living activities accurately reflects the primary purpose and use of long-term care insurance.