Retirement planning is already complicated enough. Now you feel faced with the pressure of having to research yet another product with a myriad of options.

Have no fear, you will learn the basics of everything you need to know on this page, which will then link out to specifics on the core topics of most importance.

Type of Long-Term Care Plan

One of the first considerations will be whether to consider standalone Long Term Care plans, or to look at the newer hybrid plans which combine Long Term Care benefits with a return of premium via life insurance benefits.

• Detailed information on Hybrid plans.

The advantage of standalone insurance is that it has a low annual premium for a large, and potentially growing, LTC benefit. For example, a 60-year-old can secure $200,000 of coverage for about $2,000/year (100x leverage).

While you get outstanding leverage with this route, there are potential downsides. Premiums are not guaranteed and can increase in the future. If you die without ever needing LTC, you'll have spent your premiums for nothing.

Hybrid plans provide fantastic LTC coverage but with a death benefit in the event no LTC is needed. Many plans also have perks like cash indemnity (meaning you get a check and can spend the money as you please).

Compare Side-by-Side Long-Term Care Plans in 3 Minutes

How Much Insurance is Enough?

We see situations daily where consumers were sold a big insurance plan that frankly is overkill. Spend some time to research what you'll actually need and don't buy too much insurance. A good honest adviser can guide you in the right direction.