As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Washington. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
Read More

As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. In September 2013, we began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in Maine. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the
Read More

In August 2012, we began seeking premium rate increases on certain blocks of comprehensive long term care insurance policies, including Pre-PCS, PCS 1, PCS II, and Choice 1. During the course of 2012-2014, we implemented rate increases on these blocks of business. In some states, the full requested increase was not received. Genworth began submitting requests in these states during the second half of 2014. Arizona has now allowed our requested increase, and the details of the implementation of this premium change can be found within the announcement. Servicing agents will receive a list of their impacted policyholders in these
Read More

05/02/17 Net Income Of $155 Million And Adjusted Operating Income Of $143 Million RICHMOND, Va., May 2, 2017 /PRNewswire/ — Stockholder Approval Of Acquisition By China Oceanwide Holdings Group Co., Ltd. (Oceanwide) March 7, 2017 With Approximately 96 Percent Of Votes Cast Voting In Favor Of The Merger All Regulatory Filings For The Oceanwide Acquisition Submitted Progress Made On U.S. Life Restructuring Plan With Several Internal Reinsurance Transactions Completed Effective April 1, 2017 Net Income1 And Adjusted Operating Income2 Includes An Unfavorable Item In Long Term Care Insurance (LTC) Relating To Guaranty Fund Assessments For The Penn Treaty Plan Of
Read More

Please remember that all states have regulations governing replacement and/or churning activity. Replacement regulations require additional paperwork to be provided to the applicant/annuitant and submitted with the application. Failure to comply with regulatory requirements will result in processing delays for you and your client(s). In addition, the Genworth companies (Genworth) have adopted and published a Replacement Policy that details the company’s position on replacement activity. To read the policy in its entirety, click the link below: State Replacement Regulations Reminder For All Insurance Products #goldencareagent #genworth
Read More