Genworth Life Insurance Company [2021 Review]

Genworth Life Insurance Company offers a variety of life insurance products for senior consumers. Their long-term care insurance policies offer protection against the cost of nursing homes, assisted living, and Alzheimer’s care. They also provide term life insurance with death benefit options to help protect your family from financial hardship after your passing.
Genworth has been providing quality coverage since 1871 so you can be confident in their service and expertise. To learn more about how Genworth can meet all of your needs, visit them online today!


About Genworth Financial Life Insurance Company

Most people understand how important life insurance is. Without it, you run the risk of leaving your family with debts and no financial security. Choosing which insurance company you decide to go with is one of the most important decisions you can make.

That’s why it’s essential to research and compare your life insurance options. The following will review the Genworth Life Insurance Company. Genworth Financial has reconstructed what they offer our clients… See Below.

What does Genworth Offer?

  • Long Term Care Insurance
  • Genworth Long Term Care Insurance
  • Genworth Mortgage Insurance
Mortgage insurance with enworth
Genworth Financial ~ Mortgage Insurance

A Brief History of the Genworth Financial Life Insurance Company

Genworth Financial is a colossal insurance/financial service company that has been around for over 145 years. Formerly, it was known as the Life Insurance Company of Virginia. Genworth Financial covers all 50 states, but its HQ is in Richmond, Virginia.

What has happened to Genworth Financial Life Insurance company

Within recent years, Genworth has suspended its sale of traditional life insurance policies.  At one point suffered a $1.20 billion dollar loss.

What will happen to my life insurance policy if Genworth goes bankrupt?

Not to worry, due to the size and their assets, it is very rare for a life insurer to go bankrupt. Especially since life insurance itself is regulated and protected by the state and federal commission.

God Forbid, it did, if you had a life insurance claim pending with Genworth, it will be honored. Rest Assured!


Is Genworth a good company

First, they have a strong reputation for their customer service and are fiercely committed to their clients. They specialize in long-term care insurance all over the US.

They also deal with home buyers and homeowners — this shows that they are a well-established company, which is usually a good indication of stability. However, they have had some trouble recently, which we will expand upon below.

Genworth Financial prides itself on providing financial security to families. Further, this exemplifies in their Genworth Foundation, which offers grants to several non-profits to tackle economic problems for less fortunate people around the world.


AM Best Rating Genworth Life Insurance Company

As of 2018 A.M., Best affirms the Financial Strength Rating (FSR) of B+ (Good)  for Genworth Financial. Although they continue to have a strong reputation, recently there have been several complaints regarding their services, which has docked their score a bit.

In fact, this is certainly something to look into before choosing them as your insurer. However, as veterans in the insurance/financial game, we hope that they will regroup and continue to give the excellent service that people have come to expect from them.


Does Genworth Sell Life Insurance

Genworth Financial has stopped selling life insurance products as of March of 2016. Hence, this was due to several factors, including some financial restraints. Let’s focus on long term care insurance… See below!

“Long term care is a family matter” ~ Genworth Financial

How can we get the cheapest long term care insurance

Who should consider buying long-term care insurance

We should all thing ahead of time. You might be asking…At what age is it best to get long term care insurance? The best age is mid 50’s.  

As we age there are a lot of things we need to think about. Not only for ourselves, but we are also doing this so our loved ones are relieved from this burden. 

Genworth Financial long term care


Genworth Long Term Care Insurance

We need to start thinking about the following:

  • our medical condition
  • assisted living facility
  • health insurance
  • nursing home
  • home health aide
  • long term care cost
  • qualifying for coverage
  • long term care services

Are Genworth Annuities Safe

The Genworth Financial Life Insurance Company also offers retirement annuities. Since advancements in modern medicine have allowed people to live much longer, it’s more important than ever to make sure that retirees do not run out of income later in life.

To conclude, the annuities focus on ill-health and anyone that could use more monthly income. Immediate annuities focus on those between the ages of 70-95.

The premium price ranges between $50,000 and $1 million. This immediate annuity also offers a death benefit to a single beneficiary if death occurs within six months of the contract.


HOW CAN I GET THE BEST QUOTES FOR MY LIFE INSURANCE

Here at PinnacleQuote, we can set you up with the best life insurance companies available. By working with us, you’ll save a lot of money on your life insurance policy, because we know how to find you the lowest rates.

Foresters Life Insurance with Danny Ray
Danny Ray ~Owner/Agent of PinnacleQuote Life Insurance Specialists

We shop you to over 50+ carriers at one time! We Guarantee, Best Carrier! Best Price!

Give us a call today (855) 380-3300! We look forward to helping you achieve your life insurance goals and protecting your family!!!

For more information on Mortgage Insurance: CLICK HERE

Conclusion

Genworth Life Insurance Company is a company with over 150 years of experience in the marketplace. They have been providing life insurance and annuities to customers all across America for generations, so they know what it takes to make sure you are taken care of during your lifetime and after death. Their team of experts can help you find the right solution for your specific needs at an affordable price that fits into any budget – whether that means getting coverage just for yourself or including loved ones too. If you’re ready to get started on securing your future, head over now!