Genworth Suspends LTC Sales

Genworth Suspends LTC Sales

Genworth BGACurrent industry dynamics have caused many long term care insurance carriers to confront difficult decisions. Even in the face of sustained low interest rates, as well as other challenges facing the long term care insurance market, Genworth Life Insurance Company (Genworth) has remained true to its objective of ensuring that they offer products that are priced to balance consumer needs with its desire to achieve long-term profitability. Genworth will continuously monitor, examine and manage its business to achieve this objective.

As a result of this analysis, effective March 21, 2013, Genworth will suspend sales of our individual LTC products, California Choice and Choice Partnership, pending the necessary approvals to launch the Privileged Choice ® Flex product in California. 

Please note that all licensing and continuing education requirements must be met prior to submitting business.

Paper Application Transition Rules:

  • 3/21/13 Last valid application sign date for applications
  • 3/28/13 Last valid Home Office Receipt Date for applications dated 3/21/13 or prior.
  • Applications must be received by 3:00 PM EST
  • Full Genworth LTC Transition Rules