Luis Pazos 
Recent research shows that at least 70 percent of people turning 65 this year may need long-term care, with the average stay being around 2 ½ years (or 30 months). Genworth offers both individual and group long-term care insurance.
Genworth Insurance Overview:
- Premiums written: $177 million
- Financial Strength: B+ A.M. Best Rating
- Year Founded: 1871
- Coverage Area: Nationwide
- Headquarters: 6620 W Broad St, Richmond, VA 23230
- Phone: 847-669-9680
Genworth Long-Term Care Insurance:
With over 40 years of experience in long-term care insurance, Genworth has issued more than one million policies that cover care in nursing homes, assisted living facilities, and at home. Over 200,000 policyholders have begun receiving their benefits, saving significant amounts of money. Genworth is dedicated to guiding its customers toward financial security and regularly engages in public policy advocacy. They also support the Genworth Foundation, which grants to non-profits tackling financial issues.
Genworth’s Life Insurance:
Genworth provides both long-term care insurance and group long-term care insurance. If you find yourself needing help with daily tasks like dressing, eating, or moving around, long-term care insurance can cover these needs. The cost varies depending on your location and the level of care required. Genworth also offers group plans for companies, with different options based on the size of the workforce.
Comparing Genworth:
When stacking up against other insurance providers, Genworth is known for its claims paid but has a B+ rating from A.M. Best, compared to GoldenCare’s variety of policies with an A- rating and LT Resource Center’s network of providers.
Genworth’s History:
Established in 1871 as The Life Insurance Company of Virginia, Genworth has evolved significantly. It was later acquired by Combined Insurance and became part of Aon plc. Now operating in all 50 states, Genworth is headquartered in Richmond, Virginia, with additional offices in North Carolina, Virginia, and Connecticut.
Summary:
Considering long-term care insurance might be a wise choice to avoid future financial burdens related to health care. This can relieve your family from having to cover these costs. Genworth offers a comprehensive range of insurance products aimed at financial stability and security.
Genworth Review:
Product: Genworth
Description: A long-established insurance company specializing in long-term care insurance, mortgage insurance, and annuities. With over 145 years in the industry, Genworth is known for its broad range of solutions to meet various needs.
Pros:
- Extensive Experience: Over 145 years in insurance.
- Wide Range of Products: Cater to different needs.
- Focus on Long-Term Care: Critical for aging populations.
- Facilitates Homeownership: Through mortgage insurance.
Cons:
- Financial Stability Concerns: Issues particularly related to long-term care insurance.
- Complex Products: Can be overwhelming to understand without professional advice.
- Inconsistent Customer Service: Some variability in service quality.
- Limited Global Reach: Not as widespread as other major insurers.
