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. South Carolina has now allowed the following increase: South Carolina Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Pre-PCS 9% 20% PCS I 20% 20% PCS II 20% 20% Choice 1 20% 20%       This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted
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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. Georgia has now allowed the following increase: Georgia Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS II 15% 15% Choice 1 15% 15%       This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the
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(Georgia and South Carolina) To provide greater flexibility for policyholders when making decisions regarding premium increases, Genworth will begin offering the Limited Benefit with Partial Return of Premium  option in select states with specific products beginning April 23, 2018. This option is currently allowed and available in: Georgia — for eligible PCS II and Choice 1 policyholders South Carolina — for eligible Pre-PCS, PCS, PCS II and Choice 1 policyholders How it works: When implementing a premium increase, Genworth currently offers policyholders the choice to 1) keep their current coverage and pay the full increase, 2) select an option to
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Genworth continuously monitors, examines and manages our business to help ensure we are offering products that are priced to balance consumer needs with our desire to achieve long-term profitability. As a result, on May 21, 2018, Genworth will suspend sales of individual long term care insurance in Montana. This change will not affect existing policyholders.   Transition Rules In order to effect a smooth transition, please note the detailed transition rules below and remember that all licensing and continuing education requirements must be met prior to submitting new business. It is critical to follow the transition rules, as we will
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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. Washington DC has now allowed the following increase: Washington DC Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Choice 1 10% 10%       This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of
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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. Pennsylvania has now allowed the following increase: Pennsylvania Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Choice 1 20% 20%       This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications.
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The BIG Deal While everyone is talking about climate change and economic issues, no one is talking about the biggest issue facing the world today: Aging. Every day until 2030,  10,000 Baby Boomers will turn 65.1  By 2050, 1 out of every 4 people in the world will be over 65.2  And of those, more than half will need some form of long term care.3   The issue of aging don’t just affect older people. They impact everyone. We are all someone’s spouse or child, grandchild, neighbor, or friend. We all know and love someone that will need care and
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