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Genworth is in the turnaround phase.
Should I Be Concerned About LTC W/Genworth
- Thread starter csalter
- Start date
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- Tags
- long term care
Thank you for bringing csalter back to life. We have missed him these past 5 years.
- Thread starter
- #23
I have been here. You folks have not been posting much. I try to stay up on what is happening. I know a Chinese company has now bought Genworth and placed some cash into it.
It hasn't made me feel completely better, but a little bit. It takes time before you can see the full impact of these types of moves.
I must say that I am not totally disappointed with my purchase from the standpoint of price. I am glad I purchased when I did because to get the same insurance now costs significantly more. My wife's policy would have been higher since they now look at women differently. My wife was under 40 at the time. There are some companies that don't even sell to women under 40 now. My policy premium has not increased so far, but you never know when that could happen. California has been hard on insurance companies with LTC products in the state and that's fine with me. I have tried to get family members to buy, but the costs have become so prohibitive that they don't feel that it's worth it. I understand too.
I find it interesting though as I read the various posts how one can be very unlucky if they were to run into the wrong LTC salesperson. Just from this site alone there is a very wide continuum of experience and knowledge. I was just lucky I ran into the person that I did. I had done some reading, but nothing is guaranteed. I strongly considered moving to a newer policy when I first got this post because of Genworth's issues. MedAmerica had an attractive policy in which I would have just gotten the cash to do as I please. However, since I had already invested with Genworth, I just decided to stick with it. If it folded, well I would have lost out and if it did not fold my wife and I would have great policies with plenty of money on it if we were senior senior citizens.
I have appreciated the information on this site. As an educator, I like to learn and I continue to do so when you folks post here.
Arthur Rudnick
Guru
- 1,652
Hi Friend...............
Nice to see you lurking in the shadows
There's been a lot of changes since you last posted.
John Hancock & MedAmerica both left the market and Genworth has had some tough days.
The China/Genworth deal is far from complete. They have filed their merger and it has yet to be approved by the SEC.
At the end of the day, no matter the outcome, Genworth has enough in Reserves for any future claims coming their way. You are protected by state regs and CA has some of the toughest regulations than any other state.
Don't lose any sleep over it. You made the correct decision, so don't look back.
Nice to see you lurking in the shadows
There's been a lot of changes since you last posted.
John Hancock & MedAmerica both left the market and Genworth has had some tough days.
The China/Genworth deal is far from complete. They have filed their merger and it has yet to be approved by the SEC.
At the end of the day, no matter the outcome, Genworth has enough in Reserves for any future claims coming their way. You are protected by state regs and CA has some of the toughest regulations than any other state.
Don't lose any sleep over it. You made the correct decision, so don't look back.
From your mouth to God's ears, Arthur!!
- Thread starter
- #26
Geesh Jack, thanks to Arthur I was starting to feel good again. You sure know how to pull the joy out of a post.
Geesh Jack, thanks to Arthur I was starting to feel good again. You sure know how to pull the joy out of a post.
I have 5 payments left on our Genworth policy too! We are rowing the same oars!
(kidding of course)
- 15,041
I hope you didn't miss the part about the balloon payment?
