Genworth CEO Discusses Future of Long Term Care Insurance Industry
Thomas J. McInerney, the President and CEO of Genworth Financial, spoke recently about the current status and future of the Long Term Care Insurance industry.
Long Term Care Insurance Conference
McInerney presented at the annual Intercompany Long Term Care Insurance conference (ILTCI) in Orlando, Florida on March 18th. He discussed the challenges carriers are facing at the moment and his thoughts on the best way to move the market in a positive direction at such a crucial turning point in the industry. Though his presentation isn’t available to view, Genworth posted a copy of his notes for the event,[…]
Genworth to Stop Selling AARP Long Term Care Insurance Branded Products
Genworth announced today that they will cease new sales of AARP Long Term Care Insurance branded products.
This cessation comes nearly 6 years after the two companies joined together to provide innovative Long Term Care Insurance products specifically for AARP members. Existing Long Term Care coverage will not be affected by the change. 
Genworth (NYSE: GNW) is a Fortune 500 company that currently holds the ranking as the largest Long Term Care Insurance provider in the nation.
In 2007, Genworth joined with AARP to provide unique Long Term Care planning tools[…]
Shock, Genworth Long Term Care Insurance is Pulling out of California
LTC Tree just heard through sources that Genworth will cease writing California Long Term Care Insurance business 3/21/2013. This action is due to the fact that Genworth still has their old California Long Term Care Insurance product active in the state. The product that will be taken away in California Long Term Care Insurance market, is the Genworth LTC Choice and California Long Term Care Insurance Partnership version. Those plans still have the old rates from at least four years ago, with no potential in sight for approval on the new products and pricing.
Obviously, when a company cannot control it’s own pricing,[…]
Huffington Post Long Term Care goes Wild on Genworth
After reading a Huffington Post Long Term Care article entitled: Genworth Financial Exploits Obamacare Loophole To Charge Women More For Insurance, we had to respond to the irrational logic the journalist who wrote the piece expressed. The position of fairness she took just does not hold water with multiple other insurance products where men pay much higher rates… say Life Insurance or Auto Insurance!
Huffington Post Long Term Care Slams Genworth with Hyperbole
Here’s a bit from the Huffington Post Long Term Care article on Genworth:
Many women soon can thank Obamacare for ensuring that they won’t have to pay higher health insurance[…]
Long Term Care Insurance Women
Updated February 19, 2013: The Genworth changes were just announced and can be found here.
Genworth announced in November 2012 they will be moving to a new gender based Long Term Care Insurance women based underwriting platform.
This change means they will be charging women around 40% more for the insurance. Single women are expected to get hit the hardest on this new underwriting and pricing change since they are the biggest claim risk to the insurance companies. This change is anticipated to happen with their new product roll out on April 15th, 2013. Women live[…]
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