The Basics
What is Long Term Care Insurance?
What Does It Do?
At its core, long-term care insurance is about transferring risk — shifting a potentially life-changing financial burden away from your family and onto an insurance company. It’s a way to leverage your dollars today so that if care is ever needed, there’s money available to pay someone to care for you. In this video, Todd Russell, CFP®, explains how long-term care insurance policies work: How and when you can access benefits once you qualify for care The difference between reimbursement and cash indemnity benefit payments Why LTC insurance pays for custodial care — help with everyday activities such as bathing, dressing, or eating. Long-term care insurance is about maintaining choice, dignity, and control. It ensures that if care is needed, you can decide where and how it happens — without draining savings or relying solely on family.
The 4 Types of LTC Policies
Traditional
Life with LTC Rider
Hybrid LTC
Annuity with LTC Rider
Once you understand what long-term care insurance does, the next question is which type is right for you? In this video, Todd Russell, CFP®, introduces the four primary types of long-term care policies available today and explains how each one approaches the same goal — protecting your income, assets, and family from the cost of care. You’ll learn: How Traditional LTC Insurance works — pure coverage focused on care benefits Why many people consider Hybrid LTC policies that combine long-term care and life insurance How Life Insurance with an LTC Rider can offer flexibility and dual protection When an Annuity with an LTC Rider may be a good fit, especially for those with existing assets to reposition Each option transfers the risk of long-term care costs in a different way — whether through premium payments, leveraged death benefits, or re-purposed annuity dollars. By the end, you’ll have a clear overview of how the four solutions compare, and a starting point to decide which direction might best align with your age, health, and goals.
How Do You Qualify for Benefits?
How does a long-term care insurance policy actually start paying benefits? In this video, Todd Russell, CFP®, walks through the key triggers that determine when long-term care coverage begins — and what needs to happen for benefits to continue. You’ll learn: How needing help with Activities of Daily Living (ADLs) — such as bathing, dressing, or eating — activates benefits How cognitive impairment (like Alzheimer’s or dementia) can also qualify you for care What a Plan of Care is and how it guides benefit approval Why annual recertification and proper documentation are important to keep benefits flowing Long-term care insurance is designed to pay someone to care for you when you can no longer do it all yourself. Understanding how to qualify for benefits ensures that when that time comes, your policy works exactly the way you expect.
Why LTC Planning Matters
The 4 Pillars of Long-Term Care Planning
Most families never expect to need long-term care — until life changes unexpectedly. In this introductory video, CERTIFIED FINANCIAL PLANNER® professional Todd Russell walks through the four pillars of effective long-term care planning, helping you understand not just the financial side, but also the emotional and practical impact of a care event. This video is designed to help you: Recognize how long-term care fits within a broader financial plan Explore ways to prepare before a health event happens By the end, you’ll see why long-term care planning is less about “if” and more about “how.”
Where May Care Be Provided,
and by Whom
Long-term care isn’t limited to nursing homes. In fact, most care begins right at home. In this video, Todd Russell, CFP®, explains the many settings where long-term care services can take place — and the different people who may provide that care. You’ll learn: The range of care settings — from in-home care and assisted living to adult day care and skilled nursing facilities The roles of licensed professionals, home health agencies, and family caregivers How policy language determines who can provide care and what qualifies for reimbursement Key differences between reimbursement and cash indemnity plans when it comes to care flexibility Every policy has its own rules about where and by whom care can be provided. Understanding those distinctions helps ensure your plan matches your real-life preferences — whether you want to receive care at home, in a community setting, or elsewhere.