Which type of plan would typically cover long-term healthcare needs?

Long-term care insurance is specifically designed to cover the costs associated with long-term healthcare needs, such as assistance with daily activities due to chronic illnesses, disabilities, or other conditions that require extended care. This type of insurance provides benefits for services such as nursing home care, in-home care, and personal assistance, which are not typically covered by standard health insurance or other types of insurance plans.

While disability insurance provides income support when a person is unable to work due to a disability, and major medical insurance covers significant medical expenses and hospital stays, neither of these options directly addresses the ongoing care required for long-term health issues. Term life insurance focuses on providing a death benefit to beneficiaries if the policyholder passes away during the policy period, but it does not provide coverage for healthcare needs.

Thus, long-term care insurance is the most suitable option for individuals looking to secure coverage specifically for long-term healthcare requirements.