The Advisor's View of Long-Term Care Planning

Genworth conducting 'deep review' of LTCI business - what does that mean?

Posted by LTCI Partners | Aug 12, 2013 3:31:00 PM

Since Genworth is the leading writer of long-term care insurance, any announcement that they are doing a "deep review" of LTC insurance has some advisors and consumers concerned about what the future is for this product line within Genworth. In fact, there have been a couple of news articles - one in lifehealthpro.com and another in a Forbes website -  discussing the issue (links below) suggesting Genworth may be considering the product line.

Although anything can happen, the most recent Genworth conference call with investors points out the fact that LTC is a profitable business with great growth potential due to the Baby Boomer need.  However, the profitability is also dependent upon state regulators approving in-force premium increases on older blocks of business, plus introducing new products and pricing.  Those changes will help stabiize the block of business for Genworth and current policyholders.

 

Genworth conducting 'deep review' of LTCI business | LifeHealthPro.

Forbes Blog post on Genworth LTC

 

Topics: For financial professionals

Written by LTCI Partners

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