Genworth Financial released some short videos featuring President and CEO Tom McInerney discussing some topics relevant to the Long Term Care Insurance industry and the changes Genworth is making in how they approach the business.
Future of Long Term Care Insurance
Speaking on the state
of Genworth, McInerney expressed his excitement about the next two to three years in the industry. He believes Genworth is well-positioned in all businesses, but especially in the Long Term Care Insurance market, and there is great potential for growth within that market.
Many Long Term Care Insurance providers experienced troubles in the last few years related to policies because they did not accurately predict many influencing factors like interest rates and lapse rates. Now that Genworth has figured out better ways to manage this type of insurance and intends to continue implementing strategies of better management, the future looks bright.
Genworth has long been recognized as a leader in the Long Term Care Insurance industry and they intend to expand their presence within the market and continue living up to expectations of the company as a high quality insurance provider. McInerney stressed the high claims payment rates that Genworth boasts and says the actual payment of claims is one of the things that matter most to clients, and in that area, Genworth has very high marks.
Long Term Care Insurance helps consumers protect their assets from the high cost of care by providing coverage for care received in the various long term care settings. Nursing homes, assisted living facilities, and home health aides are the most common types of long term care and as the aging population in the United States continues to grow rapidly, it’s important that individuals begin to plan for this type of care later in life.
To get more information on Long Term Care Insurance and how much a policy from a top rated company would cost you, find out the best providers in Texas and request a free quote comparison and we will be in touch with you shortly.