Genworth Not Selling Life Anymore?

ranger340

New Member
6
I have a neighbor with a flex premium policy with Genworth and have a few questions.

Are they still selling life products?

How can I check on her current policy? She has bought three policies from them in the last six years. She also thought she had term.

Lastly, it states in the policy that the premium expense is 12.50% of all premium received. Seems very pricy to me.

Any help appreciated. Thx.
 
I have a neighbor with a flex premium policy with Genworth and have a few questions.

Are they still selling life products?

How can I check on her current policy? She has bought three policies from them in the last six years. She also thought she had term.

Lastly, it states in the policy that the premium expense is 12.50% of all premium received. Seems very pricy to me.

Any help appreciated. Thx.


>>Are they still selling life products?

No, they are not selling Life any longer.

>>How can I check on her current policy?

Do a call to GW. She can give them permission to speak to you.

>> She also thought she had term.

The call will tell you what she has. Could be UL, GUL Term or ULTerm. Ask for copies of her last annual reports, inforce illustrations, all the forms you need to service the case such as Bene forms.

>>Lastly, it states in the policy that the premium expense is 12.50% of all premium received.

Get the inforces.

Make yourself up a policy information form so that you get all the info on the first call and it is in the same order for all the policies. That and the inforces will help you now and could justify the replacements (assuming) later if she dies during the contestable period and the benes get zip.

Edit: their conversion options Suck! But like ATL said the guarantees are the guarantees. However, if it is not guaranteed I would not count on it.
 
I have a neighbor with a flex premium policy with Genworth and have a few questions.

Are they still selling life products?

How can I check on her current policy? She has bought three policies from them in the last six years. She also thought she had term.

Lastly, it states in the policy that the premium expense is 12.50% of all premium received. Seems very pricy to me.

Any help appreciated. Thx.

They sold their life division, so their existing clients will be serviced by another company. There's nothing to worry about, once you buy an insurance policy, you have an insurance policy. Doesn't matter if the company that sold it to you still sells life insurance.
 

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