In Japan, public LTCI is the primary source of coverage for long-term care risk, whereas private LTCI provides supplemental coverage. Life and non-life insurance companies offer various types of LTCI insurance products. Private LTCI bridges the gap between the insured’s financial needs and the benefits provided by public LTCI. This gap arises from coverage, co-payments, and limits. Private LTCI has two types of payments: fixed-amounts and reimbursements. Fixed-amount policies pay fixed benefits, whereas reimbursement policies pay costs incurred within the amount insured. Generally, life insurers excel in providing fixed-benefit policies, whereas non-life insurers are more familiar with indemnity policies. Most private fixed-amount LTCI insurance products link payment conditions to public LTCI (a five-level graded system). This approach has clear advantages because it provides objective evaluation criteria and is simpler and easier for policyholders to understand. Life insurance companies are the primary providers of private LTCI, focusing on fixed-amount products. The first private LTCI insurance product in Japan was introduced in 1985, and various products have since been introduced. New products are being actively introduced, and their variations are ever-increasing. In 2021, the total number of new business cases of fixed-amount private LTCIs sold by life insurers was 363,271. Compared with the 3,570,858 total number of new business cases for medical insurance, private LTCI remains small. An estimate shows that only 9.5% of households participate in private LTCI. Choosing private LTCI can be a complex issue. Consumers should be aware of (1) the expenses associated with long-term care, (2) the available coverage of public LTCI, and (3) the various products provided by insurers; sufficient time and effort should be dedicated to choosing private LTCI.