The normal AWS load balancers are set up to stay in service as long as the cache time on their IP address having been served by DNS... (which, FWIW, I have long argued "isn't sufficient", as many ISPs in countries half a world away from the US or using tech like satellites don't honor DNS cache times and then your requests end up getting routed to someone else... I routinely got tons of HTTP requests clearly destined for someone else's product).
With an application load balancer, you can set up multiple backends, do basic redirections, do OIDC authentication, etc.
With a network load balancer, you can only spread TCP and / or UDP connections.