Which of the following is a disadvantage of long-term care insurance?

Long-term care insurance is designed to cover various services that assist individuals who can no longer perform daily activities due to chronic illness, injury, or aging. While it provides essential financial protection against the high costs of long-term care, one of the notable disadvantages is the potential for high premiums, which can increase over time.

This trend in rising premiums can be attributed to various factors, including increased demand for long-term care as populations age and changing market conditions affecting the insurance industry. As premiums rise, it can make the policy less affordable, especially for those on fixed incomes or for individuals who purchased policies many years ago when rates were lower.

The other options describe attributes of long-term care insurance that are generally not considered disadvantages. For example, comprehensive coverage being offered is typically a feature that enhances the value of such policies. The absence of limitations on covered services and the provision of immediate benefits without waiting periods are favorable attributes that make long-term care insurance appealing rather than disadvantageous. Thus, recognizing that the costs associated with premiums can become burdensome over time highlights a significant concern for policyholders.