Geez Genworth, Your Comdex Score is Now a 61

[ltcadviser]

Genworth was popular because it was the low price leader. Price is only an issue in the absence of value.

Genworth has LTCI market share for a number of reasons. Could price have been one factor? Possibly. More likely however, Genworth sold high volume policies marketed aggressively through captive agent sales force/direct mail campaigns; internet advertising; AARP relationship, etc. The Genworth LTCi product has always been an excellent policy contract. No one can say otherwise. I believe Genworth was primarily popular due to its significant marketing channels of distribution. To a large extent GE Capital/Genworth/John Hancock are the historical face of LTCi. JH really has not had a competitively priced policy in 15 years. Still, JH is popular due to marketing channels. Same with GNW.

 

[Arthur Rudnick]

originally posted by ltcadviser

Genworth has LTCI market share for a number of reasons. Could price have been one factor? Possibly. More likely however, Genworth sold high volume policies marketed aggressively through captive agent sales force/direct mail campaigns; internet advertising; AARP relationship, etc. The Genworth LTCi product has always been an excellent policy contract. No one can say otherwise. I believe Genworth was primarily popular due to its significant marketing channels of distribution. To a large extent GE Capital/Genworth/John Hancock are the historical face of LTCi. JH really has not had a competitively priced policy in 15 years. Still, JH is popular due to marketing channels. Same with GNW.

I also believe that Genworth was an easy sell because of it's recognized name.
I found many prospects were not only aware of the name but was also aware that they were the largest provider of LTCi on the market.

But.............
The worm turns. Had an appointment last night and when I brought up Genworth (least expensive option) the guy said to me "I hear Genworth's stock has recenly been tanking and the've been raising their rates left & right".

So now, we're going to have to deal with that.

Now of course I told him all about the Model Regulations for rate increases on LTC premiums.

He looked me in the eye, took a deep breath and said: "Have you been speaking with Scott?"

"

 

[Mr_Ed]

originally posted by ltcadviser



I also believe that Genworth was an easy sell because of it's recognized name.
I found many prospects were not only aware of the name but was also aware that they were the largest provider of LTCi on the market.

But.............
The worm turns. Had an appointment last night and when I brought up Genworth (least expensive option) the guy said to me "I hear Genworth's stock has recenly been tanking and the've been raising their rates left & right".

So now, we're going to have to deal with that.

Now of course I told him all about the Model Regulations for rate increases on LTC premiums.

He looked me in the eye, took a deep breath and said: "Have you been speaking with Scott?"

"

appointment?
are agents still going to people's houses on appointments????

 

[ltcadviser]

Yes, Scott. Arthur still meets with clients face-to-face.

Many agents do.

 

[scagnt83]

He looked me in the eye, took a deep breath and said: "Have you been speaking with Scott?"
"

Totally random thing happened today. My mother was researching tax deductions online and found a bankrate article about LTCI deductions.

She called to ask a few questions about it and read a few lines. Then she reads a line where they quoted a LTCI agent out in Kali... our very own Mr. Ed!! I said, "hey I know that guy!".

Even though Scott and I disagree on many things, we also agree on many things too. And I would have to agree with his statement in the article.

 

[Cash]

appointment?
are agents still going to people's houses on appointments????

The ignorance in this post is astounding. I will now up vote myself.

 

[Arthur Rudnick]

originally posted by Mr_Ed

The ignorance in this post is astounding. I will now up vote myself.

If I'm not mistaken, you're part of this thread.

 

[CALTCAgent]

sorry I voted by accident. It felt empowering.

 

[trustandadvice]

the ignorance in this post is astounding.

You mean outstanding! -hahahaha So what you're saying is you are doing a lot of service work. Educating your clients on the value of the higher premium and lower credit rating with Genworth. Hilarious! Rock on!

 

[Mr_Ed]

You mean outstanding! -hahahaha So what you're saying is you are doing a lot of service work. Educating your clients on the value of the higher premium and lower credit rating with Genworth. Hilarious! Rock on!

what i'm saying is that you are ignorant of the regulations that protect policyholders.