Genworth Long Term Care Insurance Review
13 Customer Comments & Reviews - see all comments
Disclosure: We receive advertising revenue from some partners.
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 currently enjoys an excellent reputation and hols an A+ rating with the Better Business Bureau.
Leave a comment for Genworth Long Term Care Insurance
13 Customer Comments & Reviews
Loading Reviews ...
12 words to rate this business? I will give you 5 words. there ought to be a LAW! I am not a policy holder per say, but am an independent care provider for an elderly man who has had this policy for approx. 15 years and up to now has never had to submit a claim. But now that he is ill... the insurance company sent out a visiting nurse to take a complete evaluation on his current health condition and to better understand just what kind of claims he will be submitting. Everything that the nurse explained to my client, the policy holder, made perfect sense and we both felt very confident that this was going to be a smooth process... and how wonderful for him that he has... Read More
Do NOT buy there long term insurance. My poor mom paid into their program for 30 years and now it is ridiculous trying to get them to pay for anything with all the deliberate hurdles they put up to try and actually make a claim. There famous response is "we have not received your paperwork" when both the home service and myself personally resend and resend the invoices over and over again. It is their ploy. DO NOT trust them
My husband and I both have policies with Genworth. We are not happy with the huge premium increases we have seen over the past couple of years. However, we saw first hand how this company comes through for those that actually need it. Both my parents - one with kidney failure and one with Alzheimer's used their benefits through Genworth to afford the care they needed. Genworth claims professionals were quick with the paperwork and very responsive to any questions or problems that arose. Now that my father is gone, and I am responsible for caring for my mother, I have been very impressed with how Genworth processes claims in a timely way and responds quickly to any questions that I... Read More
I have been reading the review comment on this website, all of which are negative. I have a olicy that I have been paying for 20 years from age 55 to 75 and also have a sperate policy with a different company for my wife that we have had for for 15 years. To be fair i have not yet needed to claim and can not speak on their claim service. However I have performed extensive research on the Premium increase aspects and have mixed feeeling on that aspect. I have only had ine 10% increase(n 2013) while my wife has had two increases of 10% ( also 213) and now 40% over 4 years . Premium increases are granted at the state level based in where the policy was originally purchased , Some state (... Read More
DO NOT DEAL WITH THIS COMPANY!!!! It is nothing but a SCAM. MY aunt is 88 years old and is in an assisted living facility because she can no longer care for herself. She paid into this company 30 years and they refuse to pay for her care. She has to have help dressing, getting in and out of bed, walking, etc... It is appalling that these people are allowed to steal from trusting consumers in this manner. We are having to use some of her hard earned money to secure a lawyer to fight them for the money they SHOULD be paying.
I have had a long term plan policy in place for 9 years. I thought I purchased a product with a fixed premium. On my 70 th Birthday, I received a premium change notice increasing my annual premium from $3,500 to $5,300. I feel misled and defraud by this action as I approach a time where I my need benefit that I thought I had purchased. James M Illinois
I continue to hold my LTC insurance coverage with Genworth, although I am not at all certain this is worthwhile. I am seeking the services of a lawyer specialist in evaluating what my policy will actually deliver once the insurance contract wording is translated into true cost benefits and limitations. it is especially troublesome, that the ultimate control of releasing funds in subject to their in-house decision group, who seem able to constrict payouts on an arbitrary basis if you are reading all the problems with their policy holder claims. As a result I would not recommend this insurance as truly mind easing and complete.
My husband and I purchased out GE LTC policy 12 yrs ago. We have not used the insurance. Premium increased 43% this year. After reading the difficulty in drawing monetary support; makes me wonder if I've thrown money down a drain. One never knows how good their insurance is until it is used. Fortunately, we have not used it, therefore, do not know how good it is.
We took this LTC insurance 17 years ago and have paid the annual premiums including increasing premium costs. Now we are trying to use this insurance and trying to complete the 100 days necessary to activate payments. This is for home health care, my husband has Alzheimer's Disease and home care will go on as long as possible. I have found Genworth extremely difficult to work with. I cannot get a straight answer to any question...if I ask same question of 3 phone responders I get 3 different answers. Yesterday, claim rep had me in tears. My husband is 85 and I am 79 this has been a nightmare. I think perhaps my husband may pass away, possibly me too, before we are able to have a... Read More
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.