According to the FCA, long term care insurance provides benefits when a policyholder:

Long term care insurance is specifically designed to provide financial coverage for individuals who can no longer live independently and require assistance with daily activities. This type of insurance steps in when someone needs help due to chronic illness, disability, or cognitive impairment, effectively assisting with the costs associated with care services, whether in-home or in a care facility.

The focus of long term care insurance is on the need for personal care or assistance, rather than financial support for dependents, medical check-ups, or mere age. While these other factors might impact an individual's situation, they do not directly address the primary condition that triggers benefits under a long term care insurance policy, which is the inability to live independently without help. This makes the chosen answer the most accurate reflection of the purpose and use of long term care insurance as defined by the FCA.