There is nothing terribly complicated about any of the facts and terms used to explain long-term care (LTC) insurance in general. The devil is in the details of evaluating several policies and choosing one policy with the benefits you need and which you can afford.

In addition to the three most important LTC coverage variables—benefit amount, benefit period, and elimination period—is an assortment of policy features and options of greater or lesser importance to different individuals.

The consumer's ability to tinker with the design of the policy in several ways makes it possible to customize LTC insurance more than the other types of policies most of us are familiar with. That makes a policy more valuable, but the buying process becomes a bit more complicated. That's unavoidable, not a shortcoming of the product.

With LTC insurance, as with a new vehicle, the many choices facing the consumer allow him to purchase something suited to his needs and budget. (Maybe the real problem is that shopping for insurance is not as much fun as shopping for a car!)

With a crystal ball, you could see whether LTC insurance would be necessary at all, and if so, buy a policy with precisely the benefits and features that would end up giving you the most bang for the buck. Those of us without supernatural help must instead be realistic.

It is impossible to be completely certain in advance that any financial planning decision (or almost any choice in life) is destined to be the very best course we could have chosen. Fortunately, however, it is possible to confidently make an informed and good decision on what coverage, if any, is right for you.