Genworth Financial Life Insurance Company Review

by Jeff Rose on March 5, 2012 · 1 comment

These days, it feels like every company and business sees you as a giant wallet, ready to be opened and emptied of any money. With companies like that, it’s a relief and joy to find a life insurance company that doesn’t focus solely on money.genworth company logo

Genworth Life & Annuity Insurance Co. are prided on their service to clients and customers, present in 25 countries worldwide, and one of the top Fortune 500 companies. They know that a customer is a person looking for security for friends and family, and Genworth Financial can prove they know and believe it.

With experience and knowledge of insurance dating back to 1871, Genworth Financial has a different way of looking at insurance and customers than other insurance companies.

Closer Look at Genworth Insurance Company

The first thing that sets Genworth Financial apart is their leniency. Every company has a build chart, used to rate clients, and that rating affects the amount of the premiums they’ll pay. Genworth Financial’s build chart is lenient, a 6’ tall man, under 65, and up to 221 pounds can be approved at their highest rating; a rating you won’t get from competing companies. For something seemingly inconsequential, it makes a large difference to customers.

The second thing that sets Genworth Financial apart is their policy for customers over age 65. Forget the old build chart, Genworth uses their own, separate, build chart for senior citizens, which is also lenient. A 241 pound, 6’ tall, senior man can be qualified for the preferred best category, heads and shoulders above what other companies offer, and Genworth even allows those being treated for high blood pressure, up to 145/90. Leniency is obviously the best policy, and Genworth Financial has proven itself as one of the best, lenient companies.

The final feature that makes Genworth Life & Annuity Insurance Co. a great choice for insurance needs is the availability of a 30 year term policy for all customers up to age 65; saving up to 40% over a universal life insurance policy up to age 120. Genworth already stands above other insurance companies, offering lenient build charts to decide policies and working with senior citizens, and even improves upon that by making such a policy available.

But How Stable Are They?

I was on the verge of adding Genworth Financial as one of the annuity options with my clients back in 2008.   Then when the financial crisis hit, they were downgraded and then added to my firms watch list.  A year or so afterwards they received a large cash inflow and there ratings were restored.

Things seem to be on the mend for them, but then this past July, they were downgraded by Fitch to an A- rating, once again, adding concern to the financial strength of the company.  It definitely gives me reason to worry, except of the recent partnership they struck with AARP.

Partnership with AARP

AARP, a leader in long term care issues for 35 years, announced a brand new caregiving support service, available to AARP members and designed to meet the needs of AARP’s millions of members nationwide.  AARP® Caregiving Help and Advice from Genworth (1) breaks new ground by becoming the first national service endorsed by AARP to integrate care assessment, care planning and provider matching.

People need more from their insurance companies than a hand in their pocket, they need security and acceptance. Genworth Financial seems to provide that security and acceptance, making them one of the best companies to look at when choosing life insurance.

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{ 1 comment… read it below or add one }

Rebecca Lindquist March 9, 2012 at 3:06 am

I like your place to talk about things. I guess I should start taking these things more seriously. There is really a small amount of technical information about what the life insurance companies offer. Their sales brochures leave much to be desired.


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