Long Term Care Certification Practice Test

A person might consider purchasing a long-term care policy for all of the following reasons EXCEPT:

1. To prepare for potential long-term care needs

2. As a supplement to Social Security retirement income

3. To maintain a sense of independence

4. For tax benefits

The correct answer is: To maintain a sense of independence

A long-term care policy is often considered an essential part of financial planning, particularly as individuals age and the possibility of needing extended care increases. Among the various reasons people might choose to purchase such a policy, maintaining a sense of independence specifically relates to how individuals can manage their long-term care journey. While having a long-term care policy can facilitate care options that may support an individual's desire for independence, it does not inherently provide a sense of independence. Independence in this context is more about how one chooses to manage their care rather than a direct benefit of having a policy. Generally, individuals purchase long-term care insurance to prepare finances for future care needs, provide additional income in retirement, and potentially gain tax advantages, which are more directly linked to the benefits of the policy. This distinction underlines the importance of understanding that while having insurance can assist in obtaining care that respects independence, the primary motivation behind acquiring such a policy typically revolves around financial preparedness and security rather than the assurance of maintaining independence itself.