Question: Which of the following statements concerning Long Term Care Coverage is correct? Clients with a family history indicating longevity do not need to consider purchasing long term care insurance. Wealthy individuals do not need long term care since they can afford to pay for services themselves. Long term care can preserve a client's ability to choose care providers. Long term care is considered to be a medical insurance policy, and thus the premium of any LTC policy is deductible for income tax purposes.