At Genworth Financial, we believe preparing for a long term care event should be as much a part of a financial plan as your retirement. For that reason we applaud any effort to raise consumer awareness about the importance of long term care insurance. However, we believe omitting Genworth from any recommended list of companies that sell long term care insurance is an oversight.
Here’s why:
• Genworth, a pioneer in the industry, has been selling long term care insurance since 1974 and is one of the leading writers of individual long term care insurance.
• More than one in every five people in the U.S. with an individual long term care insurance policy is serviced by Genworth. That’s more than a million long term care insurance policies.
• Genworth has paid nearly $5 billion dollars in claims since it began selling long term care insurance; that’s $3 million in long term care benefits paid every business day Fewer than 5% of claims have been denied.
• AARP selected Genworth as the exclusive provider of new long term care insurance to its 40 million members based on our experience and credibility, reputation for service, product innovation and commitment to solving our nation’s long term care challenge.
Some nine million Americans now 65 or older will need long term care and more than 40 percent will need care in a nursing home. Genworth’s own Cost of Care study indicates the cost of long term care in the U.S. has increased every year for the past six years. There has never been a greater need to plan for “long life care.” These important plans start with conversations among family members. Genworth’s “Let’s Talk” initiative can provide guidance to families to ensure they have the right resources and tools to have the most positive and productive family conversations.

For more information go to Genworth.com/letstalk.

I checked the AMBest and they have no rating.

My father is 78 yrs old and in relative good health. Four years ago we purchased a Genworth Financial LTC policy for him for a $550 per month premium that would pay benefits of $6000 per mo for a maximum of 6 years. In this economy we have to make some cuts in our outlays. My two questions are this: Is Genworth Financial a safe company on sound financial footing given their mortgage exposure? Also, Would it be better to pay these considerable premium amounts into a private health care trust account instead.

I AM 73 ys old. Aetna was the original LTC provided, through Delta Airlines. I have had this policy for at least 15 yrs. Why is this Prudential LTC on the bottom of your list???

Genworth has a mortgage exposure in their overall business, but their LTC (and life) business is too strong, and their book of business too clean. Their reserves are huge. Their chances of going anywhere are slim and none, and if Genworth needs to raise cash, they can sell that book of business to another top carrier...which is doubtful. Its the same scenario with AIG and American General. AIG has issues, but American General Life insurance company is strong and can be sold off. The policy holders have little to worry about in either scenario in my opinion.

Of course this has become a crazy world we live in these days.....so nothing surprises me any more.

We've included a note on the relevant guide to reflect that USAA contract out to JH and Genworth -- which we already know to be true. Meanwhile, we'll investigate the Ameriprise and Hartford situations.

The policy is recommended by The California State Retiree Newsletter. It is for 6 years. I am 65 and my wife is 68 years old. The policy would be for 6 years at $350.00 per month. Do you have any information this company?