Genworth Life Insurance Review

Long-term care insurance policies from Genworth Life Insurance can cost between $330 and $11,200 per year, or $28 to $930 each month. Insurers raise rates after the age of 60 and 70. The cheapest insurance costs for adults in their 40s reflect a $50-a-day benefit.

What affects my rate with Genworth?

Genworth Life Insurance Review - Genworth Insurance Logo

You should anticipate to spend between $125 and $150 per month in premiums if you buy insurance at the age of 55 with a daily benefit of $150. The cost of insurance can be affected by a variety of factors.

  • Your age
  • Gender
  • Overall health
  • Benefit or coverage amount, such as $150 per day
  • Cost of care in your location

How to get a quote from Genworth life insurance

You may inquire about Genworth insurance policies via phone or email. Follow these steps to get started:

  1. Please call 866-469-7902 to speak with an insurance representative. Request a free long-term care insurance consultation on the website’s long-term care insurance page.
  2. Name, date of birth, and mailing address are all necessary pieces of information to provide in your message.
  3. We’ll get back to you as soon as possible, either by phone or email, if you reached us via the form.
  4. Provide more information about your medical and insurance needs in the form of additional questions.
  5. You should double-check and sign the contract for the insurance coverage you have purchased. Set up a payment plan after that. Start putting your plan into action.

What types of life insurance coverage does Genworth offer?

Individual life insurance plans were sold by Genworth until 2016. The company’s focus has changed since then. In the meantime, it covers the following areas:

  • Long-term care insurance can help you pay for facilities like in-home care, assisted living, or nursing homes if you become unable to do so on your own.
  • Group plans at work allow employees to select long-term care insurance. Customers may be eligible for additional savings or a better quality of service as a result of this.
  • Active life insurance policies. No matter how many policyholders Genworth decides not to activate, existing policyholders will still be covered.

What riders can I add to my policy?

Genworth does not provide any additional long-term care insurance for riders. Although there are several well-known cyclists, such as:

  • Accelerated death benefits riders. It is possible to get a portion of your death benefit sooner rather than later in the event that you are diagnosed with a terminal illness.
  • Rider waiving premium fees. If you lose your employment or become incapacitated while covered by this rider, your monthly payment will be waived.

Genworth life insurance reviews and complaints

Genworth had addressed 12 BBB complaints as of October 2020. Over time, the company’s insurance rates rose at a steady but increasing pace. Complaints about insurance claims not being paid on time or poor customer service after a policy was terminated were two of the most prevalent.

The Better Business Bureau gives Genworth a B- grade based on the total number of complaints the company has received. In 2020, AM Best’s financial grade is a B- (Fair). The company’s financial grade has decreased from previous years, which indicates that improvements are needed.

You may check out our Freedom Life Insurance Review to learn more about what other company have to offer.