If you are somewhat new to this whole ‘make money online’ thing – then surely the cost of Long Tail Pro is a major factor for why you haven’t purchased it yet. Believe me – I know! When I first started out – I refused to pay for anything at all. I did everything the free way. I tried doing all of my keyword research with the free tool that Google provides – and my keyword research efforts were terrible! You know how I know? Because my sites weren’t getting any traffic and I wasn’t making any money.
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To answer your final question, yes but not really. You can definitely use AdWord keyword planner tool to get solid organic search volume estimates. However, don’t just stop there. Leverage other tools to find longer tail variations you can map against various stages of the buyer journey. I like to use SEMrush, Keyword Tool.io and Google autosuggest.
Note: the old software version of Long Tail Pro would have spit out several hundred adwords suggestions (many being irrelevant to the seed keyword) for this one seed keyword and then you would have to filter to see only what you wanted to see. With the new cloud version of Long Tail Pro, you set it to show only a certain number of keywords and it displays the most relevant keywords so you have less noise and confusion to filter through.
Can't go wrong with the Google Keyword tool, SEMRush and Google Trends. The Keyword tool for volume estimates, SEMRush to see what keywords competitors are ranking for/targeting, and Google Trends to make sure the traffic is actually coming from countries I'm trying to target. Gives a relatively accurate picture of when to expect traffic spikes and seasonality insight.
Long Tail Pro helps to assess the strength of your competition and put you ahead of your competitors. It would help you to rank higher than your competitors. When it fetches the keywords for you, it filters it and delivers the relevant ones after filtering them and making them relevant to your domain. This way it would help place your business and your website ahead of its competitors.
In a nutshell, Long Tail Pro helps you quickly find keywords in bulk based on a seed keyword that you input.  In addition to returning hundreds of related keywords, the tool also shows search volume (monthly search volume), advertiser bid, number of words, rank value, and my favorite Keyword Competitiveness (helps you judge the competition and keyword difficulty).