What type of period does "long-term" coverage cover?

"Long-term" coverage specifically refers to insurance or financial products designed to provide protection or benefits over an extended period, usually more than one year. This type of coverage is essential for addressing significant, ongoing needs such as retirement planning, chronic illness, or major life events that require sustained financial support.

In the context of health insurance, long-term coverage may include policies that provide benefits over many years for nursing home care or long-term disability support. This coverage contrasts with short-term options, which are typically designed for immediate, temporary needs, and medium-term coverage, which may cover a period from one to several years but not as extensively as long-term. Indeterminate coverage does not specify a defined duration, making it less applicable in this context.

Thus, choosing "long-term" accurately reflects the nature of the coverage, which is intended to secure continuous support for a protracted duration, aligning with the typical understanding of long-term financial products.