In-Force Rate Action Announcement

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.

We know that facing a new premium increase can be difficult for policyholders, so we continue to look for ways to help customers make decisions that are right for them and improve the process of implementing those decisions.

In 2016, we launched a website for you and your customers to help explain why premium increases are needed, options policyholders generally have and the value of long term care insurance: genworth.com/LTCpremiums

Starting April 30, 2019, policyholders who have been mailed a premium increase notification letter will be able to review their letter and choose one of their coverage options online. Once selected, policyholders can electronically sign and submit their choice. Policyholders can go to genworth.com to register for or log-on to their web account to view their policy information.

In addition, the user-friendly interface will provide additional helpful information for your customers to help explain terms like daily maximum benefit, benefit period, elimination period and inflation protection.

Online coverage changes are currently available for individual (non-joint) policies only and those not on waiver of premium. Certain states and policy forms may not be available.

If available, policyholders will find access to this online option in a banner atop their account homepage after their premium increase notification has been mailed.
 
As always, policyholders who have questions regarding their premium increase and all the coverage options they may have are encouraged to call our Customer Service Team at 877-710-0817.
 

Introducing online premium increase coverage changes for policyholders
 

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