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Genworth Annuities

Genworth Annuities

 4.3/5 (31 ratings)
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About Genworth Annuities

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Since writing our first policy in 1871 as The Life Insurance Company of Virginia, we've been committed to helping people achieve and protect the comfort of financial security. Today, even in this challenging environment, Genworth is strategically focused on helping more people realize the dream of homeownership and navigate the financial challenges of aging.

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Genworth Annuities Reviews

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Page 1 Reviews 0 - 10
Rated with 1 star
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Verified Reviewer
Original review: Jan. 1, 2021

Paid life insurance for 20 years through a bank draft. When mother reached 80, the insurance company increased her insurance premiums about $20 each month which supposedly was over their limit for a bank draft without mom’s written permission according to customer services. They claimed they sent mom two letters and since she did not respond, they canceled her insurance. I don’t understand why they could not withdraw from the bank since they had never required a signature in the past and were currently collecting even greater premiums on other policies in our family through direct bank drafts. Found out the problem after mom’s death. We believe this is a ploy of the company to create loopholes to cancel senior citizens policies. Worst company ever!

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Rated with 1 star
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Verified Reviewer
Original review: Oct. 30, 2018

My mom holds annuities through Genworth. She now has dementia and has to be in long-term care. We have to come up with 3 months of payments then her long term care insurance kicks in. She has cash available. Years ago she had me put on as a power of attorney. We put in all the necessary paperwork to be able to access these funds, but now they tell us something is wrong with the power of attorney. We also have submitted letters from the doctor stating her dementia and not being able to handle financial affairs. Also her medical POA which states we have the right to get funds to pay for her bills. But they keep trying to prolong things. Once in control of her assets will find a different investment company.

4 people found this review helpful

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    Rated with 1 star
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    Verified Reviewer
    Original review: Oct. 29, 2018

    If I could give it minus 10 stars I would. Never received one of my checks, which has happened before. I called and reported it, they said they would reissue. 2 weeks later, still no check. Now we are on a month later. Received a call saying they would FedEx the check and I should get it in 2 days. Totally UNACCEPTABLE!!! It is not their money. Sent an email saying it's in my hand by 4 pm or I would be sending them a bill for the inconvenience this has caused me. You got it, no check, bill sent. Very Inept Company.

    4 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: April 12, 2017

    Genworth Annuities has provided me with great and quality services and I'm very happy with the outstanding outcome. My pay-out options and funding needs have been met. I would recommend them to everyone looking for the same work needed done as I have. People should use this company.

    2 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: April 5, 2017

    Genworth Annuities is great to deal with. They are fast, easy and convenient. When looking at getting withdraw options each person is different. They offer what's best for you and with a low fee. Payouts are good and funding is an option that they provide and can be worth your time. It ls time to take control your annuities. Do your research and see what is going to work for you. In the end you have to look towards investing in your future.

    4 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: April 3, 2017

    Genworth is highly professional and with customer's interest at heart. They spend quality time attending to each one with much respect. The withdrawal options are very convenient, detailed explanation is provided, plus security check to ensure they are speaking to the person authorized to receive information. Each customer can pick from convenient options for payout, just like me I was offered varied options and I chose the one suitable for me. Funding options for Genworth is satisfactory, and convenient to maintain, understand and keep a record of it, all centered to help and satisfy client.

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: March 29, 2017

    The customer service department for Genworth annuity insurance is the best service experience I have ever seen. It handles customer need effectively and in a timely manner. The withdrawal options are great and lets you handle all that you can. The payout options are the best and they come to me so quick and at the time of need. The funding options is truly remarkable and a great value for the customer. It gives you a choice in what is best for your needs and expectations. I would recommend it to anyone who is looking.

    2 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: Dec. 8, 2016

    Have always kept me informed and the check is always deposited on time. The company is easy to work with and if any changes need to be made they do them quickly and in a very professional manner. My withdrawals are in the form a check deposited directly into my account. They are always there on the day they are supposed to be. They are very dependable. I chose one option and have stayed with it for the last four years. I am very happy with the arrangement.

    2 people found this review helpful
    Rated with 2 stars
    Verified Reviewer
    Original review: Sept. 15, 2016

    Obtained from financial management advisor who in most other regards has been great. Perhaps she was motivated by her gain from directing me to this form of investment. For the amount invested, would not let me draw out enough each month for retirement so company gets to hold on to great amount of my money. Surrender conditions also heinous. Interest rate was also questionable. I am no longer with that financial advisor! Minuscule amount based on initial investment. The "security" of being an insurance type vehicle misleading as "secure" feature. For many years, interest accruing and cash out value did not come close to return investments in stock market and real estate. Even from 2010-2014, my portfolio was very lucrative.

    8 people found this review helpful
    Rated with 3 stars
    Verified Reviewer
    Original review: Sept. 9, 2016

    They were nice but sometimes the employees would be slow or not care about helping me. On the other hand, one of the employees was very helpful when I noticed I wasn't being helped well. There weren't too many withdrawal options here. It was kind of frustrating but at least there was no options, just little options for me to choose from. Also, not too many payout options. This time there was little to none which was also frustrating. I was very dissatisfied with what I was given and would not recommend. There was a few funding options that were given to me but none were not right for me and didn't fit my standards. I was very disappointed to see this.

    4 people found this review helpful
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    Genworth author review by Jim Blankenship

    Genworth is a Fortune 500 company with a presence in over 25 countries. The company has evolved from a small insurance company in Virginia to a company with over $100 billion in assets.

    • Easy access to forms: The Genworth website offers easy access to forms, as well as the claim submission process.

    • Online account management: Consumers can easily manage their account information, view a prospectus, and view performance through the website portal.

    • Access to tools: Subscribers to the Genworth website gain access to financial calculators and educational videos.

    • Free worksheet: For consumers who are trying to decide whether to set up an annuity, Genworth offers a free worksheet to help clarify the key points in the decision process.

    • Social responsibility: Genworth supports many employee volunteer initiatives and donated more than $1.2 million to the United Way in 2014.

    by Jim Blankenship Investments and Retirement Planning Expert

    Jim Blankenship is a Certified Financial Planner with over 30 years of experience in the financial services industry. He is the founder and principal of Blankenship Financial Planning, Ltd., has earned the Enrolled Agent designation and is a NAPFA-registered financial advisor. Prior to establishing his independent firm, Jim operated a successful tax preparation service and managed information technology operations for a major financial services corporation. Jim is the author of three books and a contributor to the blog, Getting Your Financial Ducks in a Row.

    Genworth Annuities Company Information

    Company Name:
    Genworth
    Company Type:
    Public
    Year Founded:
    1871
    Address:
    6620 W Broad St
    City:
    Richmond
    State/Province:
    VA
    Postal Code:
    23230
    Country:
    United States
    Website:
    www.genworth.com