10 Best
Long Term Care Insurance
of 2024
Long Term Care Insurance
of 2024
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Nation’s leading provider since 1976, unmatched expertise and experience.
- Applicable for adults between the ages of 45 and 79
- Wide range of options & exclusive discounts.
- Cost of Care Map tool to understand costs
Genworth Long Term Care Insurance Review
ConsumersAdvocate.org
47 Customer Comments & Reviews - see all comments
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Headquartered in Richmond, Virginia, Genworth Financial is an insurance and mortgage solutions company offering life and long-term care insurance products, as well as mortgage insurance and annuities, throughout the United States and abroad. The company has been in business since 1945.
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47 Customer Comments & Reviews
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second rate increase since I took my policy out should of keep premiums in reserve to pay claims not increase profits Now I am paying for your mistakes and you are keeping the profit
I had a shoulder replacement. Even before I submitted my bill, the company called me to ask for it. I got payment with a week or two. Very happy with the claims process.
Genworth was always prompt and took care of handling of such benefits without any concerns or problems (not one). The policy paid out maximum coverage. I have nothing to say but good things about this company and supporting the care my aunt needed during the policy terms. I am aware we could have had even more benefits from this policy but that limitation was brought on ourselves for not being more aware of the coverages provided. The wavier of premiums.....and inflation endorsement.....great aspects of Policy!
My 88 year old mother had her monthly rate go up from $192 to $375. This after paying in for 20 years. When you might need it they jack it up to the point you can’t afford it.
Unlike many of the comments below, I have nothing but respect and admiration for the way Genworth quickly responded to my wife's claim and paid over $250,000 in caregiver fees and other benefits over a roughly two-yr period until her death last March. There were occasional blips and shortfalls, but, overall, the Company met its contractual obligations fully and fairly. They also helped us during a particularly difficult period when the claim was in some jeopardy.
bought whole life in 95 with a disability policy and have been on disability since 97,,,,,received a $1700 bill this month saying I needed to pay to catch the policy up due to cash loan value was all use up....to top it off my new monthly would more than double and each year after there would be yearly increases. My old agent talked to them and they said it was due to interest drops from 9/11 but what I read on line it is due to poor investments and corporate greed......if looking for insurance go somewhere else!!
Spoke with monique, Awful AWFUL customer service, would not put a supervisor on the call after i requested to speak with them. AWFUL
My husband and I have had LTC through Genworth for over 20 years. I am considering stopping it. The premiums are getting too high and I think you have to be completely debilitated to get any monetary help. I am 82 and my husband is 80 . My husband is in the first stages of dementia but still functions and I have multiple medical problems. We are taking care of each other but hire people to mow our lawn and clean our cellar. My children shovel our snow. The policy states that they will pay for these jobs but I think I order for them to pay, you have to be completely non functioning. There is no mention of assisted living or other facility help. I believe we have wasted our money. The... Read More
Purchased a Genworth policy at age 55 about 21 years ago. Policy is comprehensive and initially was a geat value for money . However Genworth has done a poor job at getting investment returns in the stock market so is losing money as claims are much higher than expected. In 2016 a smaller LTC company named Penn Treaty with just 4% market share had the same problem and went out of business leaving like $450 millions in funds to cover $4.5 billion in expected future claims. As a result it seems that state insurance regulators have unofficially declared Genworth as TOO BIG TO FAIL and have been granting large premium increases average 58% on existing policies because Genworth... Read More
63.6 percent increase in LTC premiums over 12 years. As I reach retirement age the premium is becoming unaffordable. Seems like a creative marketing strategy. I hope all actuaries involved with premium setting at the time I bought the policy have been fired. They clearly do not meet the standard of a competent actuary.
Top Rated
Our Partner
Nation’s leading provider since 1976, unmatched expertise and experience.
- Applicable for adults between the ages of 45 and 79
- Wide range of options & exclusive discounts.
- Cost of Care Map tool to understand costs