Genworth Long Term Care Insurance Review

Rating: 8.5 / 10 (Excellent)
4 Customer Reviews - see all reviews
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How is Genworth rated?
Benefit Limits
Customer Service
Financial Ratings

Genworth Life Insurance is rated A or “excellent” by AM Best, reinforcing its stature as a financially stable company that is able to deliver its present and future promises. Premiums on its long term care insurance may not be on the cheaper side of the scale but it continues to provide solid insurance solutions at competitive prices. This is why it comes as no surprise why Genworth’s Long Term Care Insurance is rated as among the top long term care insurance providers in the country today.    



Annual premiums for 3 year maximum benefit period plans for 60 year olds are around $1000 which is 50 percent higher than the lowest similar plans reviewed. And its $100 daily benefit is at par with industry standards.

Inflation-protected plans go for around $2000, doubling yearly premiums for 3 year maximum benefit period policies. This however, is still lower than similar inflation-protected premiums. Opting for an inflation protected plan provides doubles the cash benefits of similar non-protected plans.


Plans Available


State Partnership






Non-tax Qualified Policies


Tax qualified Policies



Genworth is one of the few companies that offer a comprehensive line up of plans that include State Partnership policies. State partnership policies are those that combine private and state (Medical Extended Coverage) coverage to provide a more robust long term care solution. A policy with MEC for example could help pay for the cost of long term care. 


Types of care covered

Assisted living

Nursing home care

Hospice care

Adult day care centers

Home health care



Waiting Period

Maximum Benefit Period – 10 years

Home care – 100 percent cover


Financial Rating

A.M. Best – A


(The company has demonstrated superior overall performance and has a very strong ability to meet its obligations to policyholders over a long period of time.)



Having a financial instrument that helps secure your future is invaluable. This is why choosing a financial stable company such as Genworth Long Term Care insurance is important in safeguarding your medical benefits when the time comes. Genworth’s premiums may not be the best in terms of pricing but having the peace of mind that you’re policy will be able to deliver its promises is essential. With so many insurance companies both big and small withdrawing their long term insurance, working with a company that specializes in this type of insurance will always be a good choice. 





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Latest Reviews

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San Antonio, Texas
I do not recommend Genworth Long Term Care Insurance. I feel they took advantage of me. I purchased the insurance 9 years ago and faithfully paid the premiums over these years. I was recently notified that my premium increased over 50 percent with expectations for continued increases in the future. They could give no estimate of future premium costs or how soon they would hike the prices. Hearing that they are in financial difficulties it is worrisome to know about the solvency of the company in the future. I have decided to cancel my policy and will take the loss of my 9 year investments.

Charles W
Killeen, Texas
Do not buy long term health care from this company. They raised my premium 50 percent in one year after I was sold the policy from Edward Jones with the guarantee my premium would never be raised. They are also in financial difficulty selling part of their assets to a company from China.

K.D. S
Huntington Beach, California
It is been taken over by "China Oceanwide" and the premiums were increased by 30% in Late 2016.

Matteson, Illinois
They increased our policy without warning by 50% starting in December of 2016 after 7 years of participation. I would not recommend them. You must get the maximum annual increase in writing which obviously we did not do and they took advantage of it.

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