Genworth, also known as Genworth Life and Annuity Company, and formerly known as the Life Insurance Company of Virginia or Life Insurance of Virginia, has been established since 1871 and has a long-standing tradition of strong finances. The company currently has over $100 billion in assets and is recognized in the Standard & Poor’s 500 stock index. Genworth maintains an “A” financial rating from A.M. Best.
Specializing in term life insurance, universal life insurance, and long term care insurance, Genworth offers some of the most competitive premiums and most comprehensive policies available on the market today. Their product portfolio currently offers:
- Colony Term – A traditional term life insurance, the Colony Term policies include a guaranteed term period of either 10, 15, 20, or 30 years. Once the term period expires, the program structure changes as cited within the policies.
- GenGuard UL – A universal life insurance policy with premiums and death benefits fixed and guaranteed either to age 100, or age 105. A cash value is included, though universal life will likely generate much less cash value than a whole life insurance policy. However, a whole life policy will have a much higher premium or the same death benefit.
- Lifetime FlexPlus II – A universal life insurance policy with premiums and death benefits fixed and guaranteed to age 121. This policy also features a built-in cash value accumulation.
- Privileged Choice – Genworth’s most comprehensive long term care insurance policy and one of the best long term care insurance plans on the market today. Privileged Choice includes benefits for home health care, assisted living care, adult day care, and nursing home care at 100% of your selected monthly benefit level after the selected elimination (waiting) period has been satisfied. Benefits can be chosen for a specific number of years, or guaranteed for life.
- Classic Select – Genworth’s long term care insurance policy with lower premiums and the option to add or subtract benefits to fit your budget
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