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Genworth Long Term Care Insurance

Genworth Long Term Care
Overall Satisfaction Rating 1.29/5
  • 5 stars
    5
  • 4 stars
    5
  • 3 stars
    7
  • 2 stars
    27
  • 1 stars
    217
Based on 261 ratings
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    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.

    For millions of people across the U.S., we provide financial security and protection through long term care funding solutions. Our mortgage insurance can help you secure low down payment loans and realize the dream of home ownership faster – even for the first time. When you’re financially secure, you have the freedom to get where you want to go— no matter what path you want to take. With Genworth, you’ll never have to go it alone.

    Genworth is headquartered in Richmond, Virginia, and we conduct business in all 50 states. Our main office locations in the U.S. are Lynchburg, VA, Raleigh, NC, Richmond, VA, and Stamford, CT.

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        Genworth Long Term Care Reviews

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        Page 1 Reviews 1 - 10
        Rated with 1 star
        Verified Reviewer
        Original review: Jan. 11, 2020

        The elimination time for coverage to kick in is typically 90 days. If a person goes into hospice they do not waive this. Other agencies do. It is very obvious a person in hospice will be gone in a short period of time. Long term care payment build quit a some of coverage money. You lose if you go on hospice no way to get help, very deceptive.

        2 people found this review helpful
        Rated with 1 star
        Verified Reviewer
        Original review: Nov. 15, 2019

        Genworth cancelled my mom’s LTC because they tried to get their payment out of the wrong account. I applied for reinstatement as her Power of Attorney. After a month of going back and forth, they told me a Power of Attorney can’t submit an application. After nearly 3 months of getting Genworth everything they wanted, they wouldn’t reinstate the policy because my mom’s health isn’t exactly the same as it was when she opened the policy 13 years ago. They did everything they could to deter me from going through reinstatement. They are an awful company that never wanted to reinstate her policy. They went through the “procedure” so they can say they did it. They never had any intention to reinstate the policy. I would NEVER recommend them to anyone!

        16 people found this review helpful

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          Rated with 1 star
          Verified Reviewer
          Original review: Oct. 24, 2019

          My sister has Genworth LTC insurance and was diagnosed with cancer. She had to have a hysterectomy and chemotherapy and was dealing with all the horrible side effects that comes with chemo and surgery. She is single and lives alone. She got assistance for a month to help her through the worst of it. When she tried to call to start a claim, she would be on hold for 20-40 minutes at a time. When you are going through chemo, that is a LOOONG wait, so many times she had to hang up.

          The claim had a 90 day wait period. So she would not get reimbursed for the month, but it could be counted for future needs if she filed the claim and it was approved. She did not know to do this. She was so sick that she gave up filing a claim because it was so difficult to do. Her cancer is now back and I am trying to file the claim and get it through. I found out about getting her previous month of care on the books to count against her 90 day wait period after placing a call to them. So I tried to file the claim a year later, but it was denied because the doctor did not write in her medical records that she needed assistance at home.

          Very important to know: if the doctor does not write in the medical records that the patient needs assistance in the home, the claim most likely will be denied. My sister did not know to let her doctor know that she was single and could not care for herself after surgery or chemo, so it was not stated in my sister's medical records that she needs home assistance. Because it was not stated, her claim was denied. Most doctors are just writing up the diagnosis and the treatment. Ensure you ask your doctor to include this information about needing home care. If you have the mental and physical capacity to know to do this, you may get your claim approved. If not.....?

          Genworth had an independent medical specialist (nurse) come to the house to assess my sisters condition. My sister was throwing up, in severe pain, could not answer questions, had a hard time focusing. The nurse sent in the report. Should be an easy claim to approve. Each time I called Genworth, the rep would tell me they are waiting on medical records. When I called the medical records the medical records rep said they did not receive a request.

          I would call to follow up with Genworth and be on hold for 25 to 30 minutes and get a general customer care rep who did not have access to the records and said that she would have them call me back. They would call back when I was at work and could not take their call. So I would need to call them back and it was a vicious circle. After 2 months, they requested medical records....it is now 3 months and still waiting on medical records in order for them to make a determination. I would seriously think twice about getting LTC insurance....read all the fine print, and I would not recommend Genworth.

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          14 people found this review helpful
          Rated with 1 star
          Verified Reviewer
          Original review: Oct. 20, 2019

          I am seventy five, in relatively good health, and so far have had no need to make a claim. But the manipulation of the premiums on this policy has become criminal in my opinion. I took out this policy in 2004, and was then paying $290/month. In 2015 I received a letter from Genworth that my premiums would increase to $500 per month, but I had the option of deleting the inflation provision on the contract, for rates of $272/ month, and a daily allowance of $487/day, for three years, or a payout of my money paid to date. I took the deletion of the inflation option and for the past four years paid the premium.

          In August of 2019, I received another communication from Genworth that my premiums would be increasing to a maximum of over $700/ month by 2021, or I could freeze the contract, no more premiums, or cancel the contract, the refund of the amount I had paid in premiums, now valued at over $50,000 though was not an option. This company is a criminal enterprise in my opinion, ripping off people who are in the last days of their lives, in need of intensive care, who have paid out the hard earned savings for care they sorely need. As for me, just refund my money and let me use it for alternative solutions to long term care, I neither trust or believe in Genworth, their word, institution or good intentions.

          Read full review
          26 people found this review helpful
          Rated with 1 star
          Verified Reviewer
          Original review: Oct. 18, 2019

          I am one of many people who trusted Genworth. I am being bullied by Genworth to cancel my LTHC policy. They are raising the premiums to drive out seniors who cannot afford to pay and pay... My only question is how the fat cats at Genworth can sleep at night

          20 people found this review helpful
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          Rated with 1 star
          Verified Reviewer
          Original review: Oct. 12, 2019

          My parents have been paying Genworth for LTI for about 50 years now. Up to this point they have probably paid somewhere between $200-$300,000. They are both now elderly and in need of home health aides. We opened claims for both of them and were told that before the insurance begins to pay, they have to pay for the first 100 days of care! Since my dad needs an aide 24/7, my parents are now laying out over $500/day only to find out that after they reach the 100 days, Genworth will pay them $170.63/day!! BIGGEST SCAM ON EARTH!

          The way I see it, the only one that makes out here is Genworth! The claim process is also not an easy one. They’ve attempted to open a claim a few months ago when they both needed medical assistance, and were both denied. Apparently you need to have one foot in the grave before your claim is accepted! After all that my parents have invested in this company, my brother and I have advised my mom to cancel their policies and save their monthly premiums to use for their medical care. It’s just not worth paying for it any longer, as they will never recoup what they put into it!

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          19 people found this review helpful
          Rated with 4 stars
          profile pic of the author
          Verified Reviewer
          Original review: Sept. 19, 2019

          Overall, I have felt that we have been treated well by Genworth LTC. We bought our policies when we were 38 and 42, respectively. As a result, now that we are in our 60's and both required care we have very good coverage for which I am deeply grateful. We still have not received the same amount in benefits which we have paid for premiums, nevertheless.

          Currently, however, I am trying to file 3 appeals all involving recent events, and all 3 involving incorrect and/or never sent information from them. Unless resolved, this will involve several thousand dollars, which is a very large amount for us. It has been virtually impossible to reach anyone to help by phone. In the past 24 hours I was on hold for: 30 minutes; 15 minutes; and 10 minutes. I finally was told that I needed to appeal in writing. Hopefully the information that they SAY they sent me (and which I didn't receive) will be sent to me now, before I write my appeal, and here's hoping that the written appeals get through better than the phone calls. I hope this never happens again. I simply don't have the stamina to deal with this.

          Read full review
          18 people found this review helpful
          Rated with 1 star
          Verified Reviewer
          Original review: Sept. 17, 2019

          Horrible insurance company and biggest mistake of my life! I purchased this insurance for my mom in 2001 the representative assured me that they had never had an increase and that the likelihood of one was pretty slim but if it did it wouldn't be that much. At the time my mom was healthy, past a physical and was only 60 but I wanted to protect her investments being that she owned a multiple family home and had a small savings my dad had left her. The policy was $150 a months since then it has gone up a few times and now I'm paying $220.38 a month.

          Today I got a letter saying that it was going up again to $1024.74 a month and that they plan to request a 150% additional increases over the next 5 to 7 years. My mom is no longer healthy, her savings have gone down drastically and the only thing she still has is the 3 family home we are trying to protect and now they are planning on increasing her policy within the next 5 years from the $1024.74 to $2,560.00 a month after they have been collecting over $600 from us for the last 19 years!! Now that she will not be accepted with another insurance company. What they want is for their older members to get out before they are able to put a claim through stealing all this money from them. Stay away from this shady horrible long term insurance company because when you need them they will not be there for you.

          Read full review
          27 people found this review helpful
          Rated with 1 star
          Verified Reviewer
          Original review: Sept. 13, 2019

          My 87 year-old aunt is extremely ill and for three weeks and about 10 phone calls, we’ve tried to get a representative to process her claim and submit a referral to the agency to visit her home and initiate care. Genworth staff use every excuse in the books about they didn’t get the message, they sent the wrong form, the intake person failed to document what was occurring, the third party care agencies didn’t answer their phones and were completely irresponsible and uncaring. My aunt religiously sent in her premiums and we just received notice they were almost doubling her quarterly premiums in September. This is the biggest scam ever and a class action should occur to stop this elder abuse. People can’t get care and die never having used their rightful benefits. So WRONG.

          28 people found this review helpful
          Rated with 1 star
          Verified Reviewer
          Original review: Aug. 31, 2019

          Insurance companies are supposed to be experts in predicting risk and creating premiums reflective of that risk. My 88 year old mother has held a Genworth Long Term Care policy for over a decade and has experienced one rate increase after another due to "higher than expected aggregate policyholder claim costs." This year's increase - going from $12,973 per year (which is up 100% over past 4 years) up to $22,143 per year - a 71% increase implemented over 3 years. Seems like an incentive to get people to forfeit any benefit of previously paid premiums by letting policy lapse, or downgrade their coverage to lower the amount of the increase. Meanwhile the C-Suite at Genworth makes $4 mil-$9 mil per year. Angering enough to consult a class action attorney.

          44 people found this review helpful

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            Genworth expert review by Matthew Brodsky

            Genworth shows clients a cost comparison for long-term care insurance and the predicted cost of care in their area so they can be sure they're getting enough coverage.

            • Long-term care insurance: Get coverage for in-home care, assisted living facilities, nursing homes and home modifications, including wheelchair ramps.

            • Group long-term care insurance: Genworth offers voluntary programs for businesses with more than 500 employees to provide long-term care insurance at group-discounted rates.

            • Care services: Genworth can connect you with professional care and caregiver solutions through CareScout.

            • Online account: Review your policy and claim information through Genworth’s secure online web portal. The firm also offers online bill payment for convenience.

            by Matthew Brodsky Insurance Contributing Editor

            Matthew Brodsky is an established expert on insurance, having written hundreds of articles and other pieces of content on the subject, interviewed countless practitioners, and attended dozens of conferences and events. He served as an editor at industry magazine Risk & Insurance for six years.

            Genworth Long Term Care 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
            Phone:
            (888) 436-9678
            Website:
            www.genworth.com

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