Long term care (not to be confused with disability insurance which is quite different) covers costs for nursing home or custodial care for those in need. This is something that makes sense for people who are older in age. Also, it may be beneficial for someone that participates in hazardous activities, such as motorcycle riding.
Long term care insurance simply works by paying a premium in exchange for a policy that promises to cover long term care expenses. The plans vary based on maximum payout and duration of payment.