Genworth Sees Rise in Profits in 4th Quarter

After months of focusing on cutting costs, Genworth Financial (GNW) reported their 4th quarter earnings today. The company saw an increase in profits and overall positive results during the quarter.
4th Quarter Profits
Genworth’s 4th quarter profits rose 24%, with a reported net income of $208 million, compared to a net income of $168 million in the 4th quarter of 2012.

Genworth Reaffirms Plans for Long Term Care Insurance Unit

Genworth President Tom McIrney held a conference call on Wednesday to discuss the company’s plans for the future of their long term care insurance unit.
Viable Business
After McIrney joined Genworth in January, he promised an internal review of the Genworth long term care insurance unit and a summary of that review in the coming months.

Don’t Count on Your Health Insurance to Pay for Long Term Care

With the Affordable Care Act’s new health exchanges open, questions are swirling about what exactly is covered under the newly offered insurance policies and what they cost. Something important to keep in mind about the new law is that health insurance, even that provided under the Affordable Care Act, does not cover the cost of long term care.

Genworth Files for Long Term Care Insurance Rate Increases on Certain Policies

According to a press release published by Genworth Financial, the company has begun filing for in force rate increases on some of their past long term care insurance products.

Young Buyers Should Avoid Guaranteed Purchase Option (GPO) with Long Term Care Insurance Policy

People shopping for a long term care insurance policy will notice that there are a lot of different choices, many of which can be confusing to those who have never dealt with this type of policy before. One option in particular, the Guaranteed Purchase Option, is often offered as a rider, but young buyers should stay away from this rider to avoid future financial disaster.

Trans Care III Long Term Care Insurance Launched Today

Transamerica released their most recent Long Term Care Insurance product today. Trans Care III, hailed by the company as “the next-generation of long term care insurance” is now available for quotes and applications.
Next-Generation Product
Transamerica is one of many companies who have recently fallen in line with the latest industry method of gender-based pricing.

Thrivent Long Term Care Insurance

2015 Update: Thrivent has not only announced their new policy, but it has hit the market.  Thrivent purchased the Newman Long Term Care agency to market this through independent brokers, so there should be no complaints about the widespread availability of the policy.  Early analysis of the policies indicates that Thrivent has chosen to increase premiums over past products.

Mutual of Omaha Long Term Care Rate Increases

Virtually all companies who sold Long Term Care Insurance over a period of many years have had to go back and adjust rates on existing policyholders.  Mutual of Omaha has increased rates on several policy forms it sold in the past.  The reasons for rate increases vary, and this page is general in many ways and not specific to Mutual of Omaha.

Compare Federal Long Term Care Insurance Prices

To get ballpark figures of how much Long Term Care Insurance Costs, check out our Online Calculator.

Federal Employees have access to a great Long Term Care program called the FLTCP 2.0.  This plan provides a simple Long Term Care plan for Federal employees and their spouses.  These plans offer comparable coverage to what is available from a host of private insurers.

Long Term Care Insurance Companies

Every type of insurance has its major players, and it seems that the players are different for different types of coverage.  For example, for auto and property insurance, State Farm is the dominant company, followed by major carriers like Progressive, Geico, Nationwide, Allstate, etc.

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