Genworth LTC Insurance Changes

[Arthur Rudnick]

previously posted by yankee466

My understanding was that AARP offered no GNW discount. The 5% only applies to true employer groups, not associations. They did offer the other plan options along with the PCFlex...My Choice, my Select, etc. Its all in Straticision

I know at one point there was a 5% AARP discount for individuals. Maybe it was just a NY thing?

 

[Mr_Ed]

previously posted by yankee466



I know at one point there was a 5% AARP discount for individuals. Maybe it was just a NY thing?

Genworth never gave a 5% discount for AARP.

 

[Arthur Rudnick]

previously posted by mr_ed

Genworth never gave a 5% discount for AARP

You're wrong my friend. Not sure about the rest of the world, but in NY, individuals purchasing a Genworth LTC policy through AARP had a 5% discount applied.

Don't know about now, but as recently as 2 years ago the discount applied. At one point you could put together your own policy on AARP's websites and rates were automatically available.

 

[Mr_Ed]

previously posted by mr_ed



You're wrong my friend. Not sure about the rest of the world, but in NY, individuals purchasing a Genworth LTC policy through AARP had a 5% discount applied.

Don't know about now, but as recently as 2 years ago the discount applied. At one point you could put together your own policy on AARP's websites and rates were automatically available.

stratecision has all the old AARP rates going back over 10 years.... none of them offered a 5% discount to people in NY.

 

[Arthur Rudnick]

previously posted by mr_ed

stratecision has all the old AARP rates going back over 10 years.... none of them offered a 5% discount to people in NY.

I see.......
Do me a favor and please tell that to the dozens of prospects I met with over the years that mentioned a 5% AARP discount.

Maybe stratecision didn't specifically list a discount, but when comparing an individual Genworth rate to an AARP rate, the AARP rate may have been 5% less.

 

[yankee466]

Maybe you are thinking of USAA and Hancock?

 

[ltcadviser]

previously posted by mr_ed



I see.......
Do me a favor and please tell that to the dozens of prospects I met with over the years that mentioned a 5% AARP discount.

Maybe stratecision didn't specifically list a discount, but when comparing an individual Genworth rate to an AARP rate, the AARP rate may have been 5% less.

As Scott says, that is not a discount. Just a different filed rate for a separate and distinct policy series.

 

[Arthur Rudnick]

previously posted by yankee466

Maybe you are thinking of USAA and Hancock?

Nope, Genworth

previously posted by ltcadviser

As Scott says, that is not a discount. Just a different filed rate for a separate and distinct policy series.

Possible and that's what I implied: it may not be listed as a discount, but when comparing Genworth/individual to Genworth/AARP, AARP was 5% less.

 

[billberry12]

For healthy couples, it's about 30% less now.

 

[csalter]

I know that Genworth was supposed to raise their rates. However, does anyone know if that has occurred in California yet. I had a colleague of mine get a quote for him and his wife for long term care. He and I are the same age. I was surprised to see that his premium was not that different than mine and he is buying his at an older age. I gave him my policy so that he could get an idea of what it's all about and used that to get the same benefits.

It seems as if Genworth's increases were minimal for the customer.