Flexible, affordable multi-life insurance program now available for small
RICHMOND, Va., Feb. 24 /PRNewswire-FirstCall/ -- Genworth Financial, Inc.
(NYSE: GNW) today introduced Long Term Care Business Solutions, a
next-generation worksite-based long term care insurance platform. Long Term
Care Business Solutions offers employers a practical way to provide
affordable, comprehensive long term care coverage to employees and their
families. The flexible multi-life program is available to as few as three
employees or as many as five hundred.
"Long Term Care Business Solutions is the first of its kind, providing the
flexibility found in an individual policy within the structure of a group
product, making it easier for the producer, employer, and employee," said Buck
Stinson, president, Genworth's Long Term Care Insurance business. "An
increasing demand for LTCI benefits is driving the multi-life long term care
insurance market to expand rapidly, creating an attractive growth opportunity
for Genworth and its producers. We've worked collaboratively with our
business partners for the past 18 months and are excited to deliver a
best-in-class offering that meets their needs and those of their clients."
Long Term Care Business Solutions is available to employees through their
workplaces. It is designed to provide essential long term care coverage in a
number of environments, including home and facility-based care, and features a
0-day elimination period for home care. The program launches with two unique
platforms to meet the individual employee's needs:
-- Executive Series -- a 100 percent employer-paid program, and
-- Employee Advantage -- a 100 percent employee-paid program
If purchased in a state where the plan meets requisite State Partnership
Program minimums, individuals may be able to take advantage of those benefits.
Genworth is supporting the Long Term Care Business Solutions program with
a full suite of tools for producers including pre-sales support, a dedicated
case management team, marketing collateral, a simple three-question
application for eligible employer-funded participants, the ability to complete
insurance applications on-line, a new quoting tool to illustrate employer
plans, and a highly competitive commission structure.
To learn more about long term care and long term care insurance products
offered by Genworth Financial, visit www.genworth.com/longtermcare.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global
financial security company. Genworth has more than $100 billion in assets and
employs approximately 6,000 people with a presence in more than 25 countries.
Its products and services help meet the investment, protection, retirement and
lifestyle needs of more than 15 million customers. Genworth operates through
three segments: Retirement and Protection, U.S. Mortgage Insurance and
International. Its products and services are offered through financial
intermediaries, advisors, independent distributors and sales specialists.
Genworth Financial, which traces its roots back to 1871, became a public
company in 2004 and is headquartered in Richmond, Virginia. For more
information, visit Genworth.com. Long term care insurance is underwritten by
Genworth Life Insurance Company, and in New York, Genworth Life Insurance
Company of New York, Administrative Offices: Richmond, Virginia. Coverage may
not be available in all states. From time to time Genworth releases important
information via postings on its corporate website. Accordingly, investors and
other interested parties are encouraged to enroll to receive automatic email
alerts and Really Simple Syndication (RSS) feeds regarding new postings.
Enrollment information is found under the "Investors" section of Genworth.com.
SOURCE Genworth Financial, Inc.
CONTACT: Yokima Cureton of Genworth Financial, Inc., +1-804-662-2598,
Web Site: http://www.genworth.com/longtermcare