Compare Genworth Long Term Care Insurance; Ratings, Policies & Costs
Thank you for visiting our website. The American Association for Long-Term Care Insurance was founded in 1997 with the goal of providing individuals with the most relevant,factual and current information upon which informed decisions could be made.
Our funding comes from insurance professionals who are members. And my primary goal is providing a resource to answer the questions we get from most consumers considering long term care insurance. Quite frankly, a lot of what I find on the Internet is out of date and some is just clearly wrong.
We don't favor one insurance company over another. My goal, after 30+ years focused on long-term care insurance, is to provide you with helpful information. I will gladly answer any and all specific questions you have. I hope you find the information contained on this webpage to be of value.
Information Posted by Jesse Slome, Executive Director
American Association for Long-Term Care Insurance
Click Here to Email Your Question or Comment to Jesse Slome, AALTCI
When you are ready to request a free, no-obligation cost comparison from a designated long term care insurance professional (a member of the American Association for Long-Term Care Insurance) call 818-597-3227 or
Click here to complete our simple online questionnaire.
Genworth Long Term Care Insurance
Click on any of the questions below to jump to read the answer.
About Genworth Long-Term Care Insurance
Genworth Financial, Inc. is a publicly traded global financial security company with more than $100 billion in assets and a presence in more than 25 countries. Genworth is recognized in Standard & Poor's 500 Index of Leading U.S. companies and ranked in the Fortune 500.
The company provides a variety of retirement income, life and long term care insurance products. Genworth is headquartered in Richmond, Virginia and conducts business in all 50 states. The main locations in the U.S. are: Lynchburg, VA, Phoenix, AZ, Pleasant Hill, CA, Raleigh, NC, Richmond, VA, San Rafael, CA, Stamford, CT and Washington, DC.
According to the 2014 Long-Term Care Insurance Sourcebook published by the American Association for Long-Term Care Insurance, Genworth Life has just over 1.2 million long-term care insureds (covered lives) for the latest year reported.
Genworth ranks #1 and accounts for roughly 17.02 percent of the market (in terms of lives).
Ratings For Genworth Long Term Care Insurance
Genworth Life Insurance Company is rated A by A.M. Best (Excellent)
A- by Standard & Poor's (Strong)
A3 by Moody's (Good)
When Is Genworth Long Term Care A Better Buy?
This is very general. But, if you are in your late 40s through late 50s, you are a very health non-smoker and you are married with both spouses buying. Then specialists will tell you Genworth can be the better buy.
HOWEVER we ran the following comparison for Genworth Flex 3. Couple age 45, both Preferred Health buying a $164,000 pool of money; no growth option.
Genworth Glex 3: $1,770 per-year
Another major insurer: $1,090-per-year
A third major insurer: $950-per-year
Same scenario, couple both age 45. They select the 3 percent compound growth option:
Genworth Flex 3: $2,320-per-year
Another major insurer $2,450 per-year
A third major insurer: $1,950-per-year
Again, this is a very simple snapshot taken August 2014 and policy costs change especially as new policies are introduced (and old ones discontinued). That's why we believe it is always important to request a comparison to make sure you are getting the best plan of coverage for the very best (lowest) cost.
A TIP FOR COUPLES
Several insurers offer a 'Shared Care" option that allows one spouse to 'tap' the benefits of the other spouse. You save by buying less coverage for each - but have a significant potential gain.
Click here to hear from an Association Designated Specialist who knows which LTC insurers offer the Shared Care option. There's NO cost and No obligation.
When Should You Compare Genworth Long Term Care For A Better Buy?
Again, this is very general. But, specialists will tell you Genworth will be less competitive if:
You are a smoker
You are a single female
You are a married female and your spouse or partner is not applying for a policy.
We ran the following cost comparison for Genworth Flex 3. Single woman age 55, standard Health buying a $164,000 pool of money; no growth option.
Genworth Flex 3: $1,840 per-year
Another major insurer: $1,461-per-year
A third major insurer: $1,282-per-year
Again, this is a very simple snapshot taken August 2014 and policy costs change especially as new policies are introduced (and old ones discontinued) That's why we believe it is always important to request a comparison to make sure you are getting the best plan of coverage for the very best (lowest) cost.
A TIP FOR ALL BUYERS
Take a few minutes to read REAL EXAMPLES OF REAL PEOPLE and how working with a specialist benefitted their particular situation. You may see scenarios that match you.
Click here to read these real examples.
BACK to LIST OF QUESTIONS
When you are ready to request a free, no-obligation cost comparison from a designated long term care insurance professional (a member of the American Association for Long-Term Care Insurance)
Call (818) 597-3227
Or - Click here to complete our simple online questionnaire.
How To Contact Genworth Long Term Care Insurance Claims
For assistance in filing your Genworth long term care insurance claim, please call the company's Claims Service department at (800) 876-4582
Monday – Thursday 8:30 AM – 8 PM ET and Friday 9 AM – 8 PM ET.
When calling, be prepared to provide two forms of identification to the Claims Customer Service Representative. Depending on who is calling, the company is limited in the information that that can provide the caller due to privacy regulations (Health Insurance Portability and Accountability Act).
