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Genworth Long Term Care Insurance

Genworth Long Term Care
Overall Satisfaction Rating 4.01/5
  • 5 stars
    112
  • 4 stars
    138
  • 3 stars
    59
  • 2 stars
    13
  • 1 stars
    11
Based on 333 ratings submitted in the last year

This company is not yet accredited. 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.

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 0 - 10
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: Dec. 31, 2020

    Purchased two GE Policies in Jan 2003 (How can one go wrong with GE?). Agent neglected to mention that the policies would fall under a "spin-off" company "GENWORTH LTC" months later. Premiums started increasing in 2012 and were double the original by 2020.

    Class Action lawsuit: Received Skochin v. GENWORTH Settlement Administrator letter circa March 2020 regarding class action lawsuit due to GENWORTH fraudulent activity against policyholders in all 50 states. A draft document was included listing five "settlement options" available to policy holders who elected to reduce or not pay future premiums. These elections were to be made by an unspecified date in late 2020. Phone calls to GENWORTH and the Richmond VA. Class Counsel attorney throughout 2020 yielded negative information on the Settlement progress.

    GENWORTH LTC Acquisition by China Oceanwide: Two Nov 2018 Hindenburg Research Reports (Nov. 1: "GENWORTH: We See Almost No Chance of Regulatory Approval. This Deal Would Be A Disaster For Policy Holders", and Nov 9: "GENWORTH'S Acquirer (China Oceanwide Looks To Be Drowning In An Ocean Of Debt") details scary financial facts about both companies and how it's a no-win situation for LTC policy holders. Queries to GENWORTH and the Richmond VA Class Counsel attorney yielded conflicting information about the Beijing China based acquisition. I sent letters of concern to Congresswoman Elaine Luria and VA Senator Jan Kiggans in Oct 2020. Luria gave an "I can't help" response and Kiggans never responded. (Interestingly, GENWORTH LTC plans are offered as a benefit to VA state employees)

    I contacted a LTC industry expert, Mr. Jack Lenenberg (a broker) via business news columnist Elliot Ralphaelson Dec 2020 for an opinion. Mr, Lenenberg stated that the China merger "may never go through" and "The GENWORTH traditional LTC policies are excellent contracts. GENWORTH policyholders should always continue to pay their premiums." My cut: I'm holding off paying GENWORTH premiums to the last minute to see what develops in 2021. I'll likely take whatever settlement options are offered if premiums are doubled again. If the ChiComs do acquire GENWORTH, I'm out for sure.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: Nov. 8, 2020

    I like my policy benefits. I was lead to believe that people with a hidden agenda post on this website. I am fit and lean so do not expect to claim on my 23 year Genworth LTC policy but now wonder why I seem to be the only person in my "Class" to be offered a $28000 cash BUYOUT offer by Genworth to drop my Amex 1998 form #7000 PCS-I series policy that covers CHORES like snow shoveling & grass cutting if I qualify for home care. I was lean when I purchased my policy and still am lean enough to pass a medical..

    I was recently told by a Sales Agent that all the Genworth customer service agents have Gmail email addressed that start with their full name + 111 so I am reading all these review to see if a full name is mentioned so I can get action on my class questions. That makes sense as usually a Gmail address is a person's first name and last name and a number.

    3 people found this review helpful

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      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 19, 2020

      My mother-in-law has had a policy for 20 years paying into monthly. Now we put her in assisted living and we have been jumping through hoops to get them to cover her. They have excuses after excuses. They keep telling us she does not qualify!!! She walks with a walker but hardly at all because she has a bad hip and can't have surgery because stage 4 kidney disease. She has dementia and doesn't take her meds without help, sleeps all day and not to mention her Doctors told us we should put her in assisted living. She gets so confused but can put on a good face. Well that's why, she was having a good the day they interviewed her. If we move her and she falls what next? LAWSUIT!!!

      13 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 5, 2020

      Their response to my request have been sluggish and they work much harder at not paying out claims than making claims possible. I am writing for my 90 and 93 year old parents. This is the year of the pandemic and my mother has leukemia and thus a seriously decrease or non existent immune system. I have asked for a waver so as to limit who comes into their home which without a second thought they refused to give. They don't care about their clients. They only care about stockholders and making money!

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 19, 2020

      I cannot decide if these people are just completely incompetent OR if they are purposefully trained to create chaos and confusion in order stall claims all the while acting like they are helpful. They act so sincere and nice on the phone, but in handling my 86 y.o. mother's claims, I have never been able to speak to the same person twice.

      They send letters that conflict with their prior letter regarding what they need or what is missing. I truly believe it is an intentional tactic to avoid paying claims. Reminds me of a movie entitled "The Rainmaker" where an insurance company trained their employees to deny all claims figuring if they did it enough times people will give up or die. I have been trying for months now to get home care services approved and it's like a shell game. One day we get a letter saying the claim is approved and we simply need to submit the invoices and a week later, we get a letter saying they need additional information about her condition or more records from her HCP.

      Mom quit paying the premiums after they jacked them up so much she could no longer afford them and so she only has a limited paid up benefit of around $30K. This also means she is a 2nd tier customer now and we cannot access their claims website, so I am forced to call their customer service number, and we all know how that goes. We don't have a lot to lose here, only $30K, but it's the principle of the matter, this company uses fear to sell their product and makes promises they do not keep when seniors are suffering and in need. I would love to join a class action lawsuit and burn them to the ground. STAY AWAY!!!

      8 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: June 29, 2020

      I am the son, administering for my Mom with a POA in the state of Virginia. The good - no issues with the amount of coverage, but of course my dad bought a huge policy. The people who represent this company are nice to deal with, always polite and patient. The bad - you gotta have a lot of patience to deal with this company! - All communication is one way. They will call my mom and leave messages asking you to call back. You can't get a live person on the phone, and if you leave a message after 5 minutes of talking to their machines they might call you back. Genworth case reps call my mom who is barely competent about once a week, she asks them to call me since I'm the POA and handling the claims, never got a call or email.

      - They are trained for compliance, so EVERY form has to be filled out exactly the way they require it. Get ready for vague explanations of why your form is being rejected and good luck figuring it out. - Filed first claim (no waiting period for home care) in March 2020, received first payment end of June 2020. No sense of urgency. If you don't have cash reserves to weather 6 months of payment delays you are out of luck. - Genworth is still asking for a signature of our provider that they collected on the home evaluation back in March. I'm just sure I will jump in the car and drive 3 hours to go get if for them again.

      - Our policy has a lifetime max of 800k, and a remaining benefit amount of 750k. I just received the first check for 7k. Excuse me, where did Genworth spend the remaining 43K? No explanation on the website, and I can't get through on the phone. - Consistently, every interaction you have with this company from calling in to being forced to use their stupid forms for everything, is designed to waste the claimants time and delay or avoid paying claims. - To get the first payment processed I had to submit by snail mail about 35 pages of forms that were not even pre-filled out with the repetitive information. Summary - there have got to be better choices. Good luck.

      19 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 21, 2020

      My in-laws took out a life time policy for long term care when they were 60. My father In-law had been going down hill for years and was paying out of pocket for care. I finally asked to see the policy he had. We submitted a claim to Genworth and they stalled every corner. Fast forward on Father in-law 87 passed and Genworth sent a check for 6K. Mother in law has a claim and they said she was approved and we moved her to assisted living. They have denied the claims stating she doesn't meet the guidelines!! She is 87, walks with a walker, dementia etc. She seems sharp some days, but most she can't be left alone.

      You see they tell you this and send you a letter stating temp for 60 days. Your policy won't start paying until you pay out 100 days!! Then when you have a new claim the 100 days start again. They bought lifetime policy for what? They pay over 10K each for insurance they won't be able to use. Plus they don't pay for a bed they are billed for if they are in the hospital!! Patient is out of pocket for what Medicare doesn't pay. Yes they pay after Medicare. Read the policy you take out carefully and get an attorney to review before you pay or take out any policy. Biggest rip off ever. We would have been better off investing the money because we are paying out of pocket ourselves.

      40 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 3, 2020

      My parents have paid premiums for their long term insurance for over 30 years. They have accumulated dividends well over $100,000. They are now in a situation that they are filing for benefits. The red tape, forms, phone calls, more forms, faxes, more phone calls that you have to go through to receive payment is more than frustrating. Invoices for over $3,000 have been submitted since December, 2019 and they have received total payments of $259.20. I have made several calls checking on status with absolutely no resolution. If they did not have as much money invested in this plan I would tell them to forget it. A shame that they take premiums for many years and when their services are needed they are not quite as available or helpful.

      44 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 16, 2020

      We purchased long term care from a Genworth agent almost 25 years ago and have paid premiums "automatically" for this period of time. Last year in 2019, we received a notice that our premiums were going up. Mine by 91% and my wife's by about 80% and this company has the the audacity to take advantage of seniors [I am 82 and my wife is 78 when this was received]. This is unbelievable, and the only option offered was to pay almost double what we were paying or reduce drastically our amount of insurance with no guarantee that this would be our last rate increase. Genworth is worthless! This is what happens when corporate greed goes unchecked, and accepted by our country's state insurance departments. This is pure theft- sadly!

      59 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Jan. 22, 2020

      My mother pd. assisted care and nursing home ins. from Genworth for yrs. Mom received $0 from the company when living in assisted care facility. The company sent a representative to the care center to determine if mom was in the guidelines to receive benefits. The outcome of the visit was disheartening. The assisted care policy mom had purchased was exactly identical as the nursing home policy. 1. Needs help eating. 2. Needs help bathing. 3. Needs help getting dressed. Etc... This Genworth assisted care policy that was purchased was more like we were scammed.

      55 people found this review helpful
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      Genworth author 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