LTC Connection
New Member
- 2
Hi all,
We are new to the LTC Insurance Forum. There is a lot of great information here. We wanted to share this information that we learned about yesterday......
Genworth Financial Inc. stated on their 2nd quarter earnings call yesterday
-wants to raise rates on a majority of its older policies by 50% over 5 years and many of the oldest "new generation" LTCI by 25% over 5 years.
-Introduce a new family of LTCI products in 2013 that will require blood tests and other laboratory tests common in life insurance underwriting
-charge different rates for men and women, to reflect gender-related differences in use of LTC services
-eliminate lifetime benefits options
-to incorporate new assumptions about the returns on the investments backing LTC policies.
There are no further details other than this that we know about.
Not good news, but hopefully helpful to be aware of before clients start bringing it up...
Catherine Dove
LTC Connection
We are new to the LTC Insurance Forum. There is a lot of great information here. We wanted to share this information that we learned about yesterday......
Genworth Financial Inc. stated on their 2nd quarter earnings call yesterday
-wants to raise rates on a majority of its older policies by 50% over 5 years and many of the oldest "new generation" LTCI by 25% over 5 years.
-Introduce a new family of LTCI products in 2013 that will require blood tests and other laboratory tests common in life insurance underwriting
-charge different rates for men and women, to reflect gender-related differences in use of LTC services
-eliminate lifetime benefits options
-to incorporate new assumptions about the returns on the investments backing LTC policies.
There are no further details other than this that we know about.
Not good news, but hopefully helpful to be aware of before clients start bringing it up...
Catherine Dove
LTC Connection