Genworth Long Term Care Insurance Reviews

 
Genworth Long Term Care Insurance
Genworth Long Term Care Insurance

Genworth Long Term Care Insurance Online Insurance Reviews

I am presently dealing with Genworth over a long term health care policy for an elderly year friend of mine. It was suggested to me by our State Representative's office to contact our state insurance board. These people are the best people to deal with. They are right on this! When you call, have your facts ready, documentation from your doctor if necessary. I have learned that insurance companies do NOT like to be contacted by state insurance boards. I was getting nowhere on my own trying to get benefits for my friend who has been paying premiums for many years. We are closer to resolving this issue with our state insurance board investigating.

We bought a long term care policy in April 2007. Received notice in Feb 2015 that our rate was going up from $190.59 to $214.99 on 4/27/15; Genworth did automatic withdrawal from our bank acct so I didn't pay much attention. UNTIL... we received notice again that our rate was going up again in 2017 from 214.99 to $253.47. Well I had just been looking at my acct online and the last payment they automatically pulled out of our acct was $365.57. When I called them they claimed they have never taken more than what was sent to me on the paperwork. They wanted to see my bank statements to prove it. After investigating, they have been pulling "extra money" out of my acct since May 2011!!! That's $8088.32.

I have sent them the paperwork to investigate this and if they are a legit company, they will refund me the money. March 1, 2017 I cancelled the automatic withdrawal from our acct and am currently investigating a more reputable company. Suggest others keep an eye on your account if you're doing automatic withdrawal!!

We have had Genworth Long Term Care Insurance for 20 years and have never used it. They raised our rates 68%. My husband is 71 and I am 68. We have no idea what to do. This company needs to GO!! They are ruining people's lives. I am guessing we have invested 80,000 in premiums so far. Just worried of what to do now.

We purchased long term care Genworth policies and paid for 8 years. My husband needed hospice care at home after a stroke for four days before he died. Genworth jerked me around for months, requiring extensive paperwork (the "long term care plan" - one does not have a "long term care plan" for a person who has only a few days to live; detailed invoices from the self-employed home aide; proof of submission to other insurance) and only paid out $360 total. It is seven months later and I still cannot get reimbursement for the doctor that they required to "supervise" the hospice workers. Genworth will do anything they can to avoid paying out on claims.

After paying premiums for many years, when I reached 80, they increased the cost. I believe they are trying to get me to drop the insurance after collecting my money all these years. I would think real hard before buying long term insurance from this company.

My 94 year old mother paid into this scam for a number of years. I noticed that her premiums began increasing dramatically. I told her to cancel that policy about 8 or 9 years ago which she did do. So, fortunately she did not pay over 50,000 but she has enough invested that they need to honor her claims. My mother's condition is such that she can no longer live on her own without assistance. We have nursing care during the day, independent health aides at night. I am new to all of this and learning quickly the process of submitting claims is so very time consuming and frustrating beyond... do not even know the right word to say. And, for the elderly that do not have someone to do this for them I just feel like something has to be done.

I have been going back and forth faxing documents, making endless phone calls which I would estimate to be in the 60+ range. Then there is the resubmitting of documents that Genworth stated required additional information (even after the nursing company that provides the nursing care called to verify what was needed) and resubmitting them again. And, one Claims Examiner told me she could not email me a form. I am like... Are you kidding me? Who does not know how to email a form? I believe she stated it was company policy or something ridiculously stupid. I promptly called back and talked to a Customer Service Rep who told me, "Oh no, we can email forms but it would take 48 hours for that email to be sent. "

At this point, I was so irate that I say whatever, just send it. I did receive the email in about 24 hours. Not sure how emails are sent with the click of a key but Genworth's emails require 24 hours to be delivered. And, unfortunately, when I completed and resent those forms back in, I was told that the forms I had sent back in were the wrong forms. I mean it is so ridiculous you don't even know what to say. And, let me not forget the claims that mysteriously were never received. In the past 3 months through my many calls I was told 'Claims are reviewed every 30 days'. So this means if you submit a claim on the 4th of the month... it won't be looked at until the 4th of the next month. And, if they review on the 4th of the next month and additional information is needed... by the time they send you a notice of what was needed and you resend you enter into another 30 day period waiting for the claim to be reviewed.

I questioned the 30 day turnaround times of the claims and why it would take 30 days to review a claim. The customer service representative answering the phones told me, oh no, that has been changed. And at least 3 different customer service representatives told me that submitted claims must now be reviewed 15 business days from the date it is received. However, when talking to the person that actually reviews the claims, she stated that it is 30 days. Regardless whether it is 15 or 30 days they still don't pay after 100 days.

Yesterday I received a call from the Claims Reviewer (only after I called a total of 8 times yesterday and told the customer service representative I would continue to call until I got an answer as to when the claims would be processed.) The 'Claims Examiner' calls me back yesterday to tell me that she had mistakenly given me incorrect information in the months prior. She stated that home health care bills were subject to the 100 day elimination period. How are you a Claims Examiner and speak to someone for 3 months and review home health care submittals for 3 months and send requests for additional information AND NOT KNOW the charges were subject to the 100 day elimination period. I find that hard to believe that they are that incompetent. Well, actually after 3 months I do not find it hard to believe.

So, while we are on the phone and I am processing the 100 day elimination period I and I recall a document received from Genworth telling the claimant to submit the charges for the rehabilitation stay that began the claim process. The letter stated that time could be used to satisfy her 100 days. I found the letter in my file and referenced the letter and the date to the Claims Examiner. She had no recollection of such letter even though it was on Genworth letterhead. I told her I would contact the facility to ask for a billing and I would send in so those days could be used. She said, Well I will take a look at them to see if the facility qualifies.

I am holding a letter from Genworth stating the facility is an approved facility and to submit the charges. The Genworth claims examiner does not seem to know how to access letter. Are they really that dumb? I would hope not. I believe it is another stall tactic they use to hold off having to pay a claim. I am wondering if employees receive incentives for the number of claims they deny or refuse payment.

I am so outraged at this company and the grueling process of attempting to receive reimbursement for services that I have vowed that I will make sure my mother receives every penny she is entitled to. And, I am also thinking of how I can offer my services to other elderly people that do not have someone to handle this ridiculousness. To the person that posted the statement about home health care not being subject to the 100 day elimination period I would love to correspond. And, if there is any such notice of a Class Action suit I would love to be a part of.

My husband had the insurance with GENWORTH and never had to use it. He passes away two years ago and still did not use it as he passed away in his sleep. This was after paying for 18 years. About two years ago I received an increase in my premiums. The amount was small. I had no problems with that. However this 60% increase has to be looked into. It is outrageous!

When I purchased my GE Long Term Care Policy, I was told they don't raise premiums on these policies. I looked at the history of the company and at that time, it was true. I was worried it was going to be like my Blue Cross health insurance policy which never failed to raise premiums every year and every birthday. However, not only has this former GE entity increased premiums over the past few years... It's gotten way out of control. With the latest 30% annual increase and the promise to do it again in the future, they appear to have gotten as out of control as their medical health insurance counterparts.

I am now being told that if I can no longer afford my new premium, which has more than doubled to $5000+/year, I can lower my daily benefit. Wow, this sounds so familiar and hits home so hard. Prior to going on Medicare, this perfectly healthy female was paying close $2000 per month for the privilege of having a $1750 deductible Blue Cross PPO. It was called PPO1500, but, when I turned 64, they raised my deductible and my premiums at the same time. Being healthy, I never met my deductible so it was money right into the hands of the insurance company. It was unbelievable. I am so grateful for my Medicare... Every single day.

The licensed insurance agent who sold me this insurance policy is now dead... But I have his communication saved + every piece of paper I have received or sent regarding this policy. When I purchased this GE insurance policy, I entered into a contract. For the specified amount of money I was to pay them, I would receive the correlating benefit I chose as my option for care. The whole point of this policy is peace of mind as I age or get debilitated They promised to care for me, at the level I chose, if and when I am unable to care for myself.

However, Genworth (GNW), is now its own corporate entity; similar to every other corporation on Wall Street. The corporations have turned their backs on us. Their primary objective is growing their bottom line while in turn returning profit to their investors, quarter over quarter. This fact in itself precludes their purported primary objective of providing a specific amount of long-term care to me, for the agreed-upon premium, specified, I pay for coverage. It was clear that if I did not pay this premium in a timely manner that coverage would cease. It was not clear that the premium would rise, based on their corporate greed. It was also not clear that they would disengage from one corporation in order to become another entity altogether. The only thing that remains consistent is my semi-annual bill in the mail.

GE knew the business it was entering into when they offered my contract for long term care. They have analysts that project into the future and map out their growth based on their products. Those of us who decided to proactively insure our illness and aging have invested much money toward this objective. What is it that Genworth wants or thinks we should do when we get too ill or too old to care for ourselves? Will we be treated like worthless entities, lined up in cots, waiting to die, in some large institution somewhere?

I’m also going to submit this horrific injustice to the more liberal consumer friendly Bernie Sanders, who can perhaps address it along with the healthcare debacle and social security threats he's attempting to make right. Watch out Genworth, we the people are coming for you! As we the boomers age, the corporations are going to attempt to take advantage of us more and more until they are stopped. I am going to try to stop them. I am going to lodge a formal complaint with my insurance commissioner in California and seek a law firm to file a class action lawsuit. This is now my Cause célèbre.

My 95 year old father has paid premiums for almost 30 years and now that he needs in home care, Genworth does everything they can to not reimburse for his care provider. They are difficult at best and possibly criminal at worse. But hey, they always have a pleasant demeanor when they say they're working on sending his payments. Shopping for LTC? Look elsewhere!

Genworth sold me their long term healthcare plan when I was 21 years old. I have been paying in for 14 years. The reason I purchased it at 21 was to ensure I never had to pay the high premiums people pay when they buy these policies at 50+. The sales person even let me know the premium doesn't increase and since I am buying it at such a young age I am well positioned to always pay the current premium. Additionally they stopped offering the life insurance plan I have, this seems like a very convenient way to force people into a less inclusive plan. Well last week I got a letter that stated they are raising premiums by 60% even though the year before they said the money I have already invested has been growing steadily above the level I would typically need for a day. This is clearly a way for their executives to make higher bonuses and has nothing to do with its clients. I do not understand how the state of NY approved this.

In 2014 all choices I had were for 4 years. I choose option 3. In 2015 the choices were not the same, they inserted 3 year options where the year before it was for 4 years. I just checked the box I had checked in 2014 on my 2015 option page. Did not realize it was for 3 years. Almost the same amt. of money so I checked that same box. This year my option paper came and it had only 3 yr. options on it. I called, the girl thought it was funny. I said "Oh I can go down in years but never back up" and she said yes. So now I am paying for a three year plan which was slightly lower from my four year plan by maybe 100 dollars. These insurance companies get you with their tricks by publishing their materials to look similar to what you are used to. That is all I have to say.

Annual Premium Increased 30% From 2,233.50 to 2,903.55 in 1 year. This policy my mother has had for over 33 years, and finally after paying her annual premiums and never using the benefits of the policy, my mother is finally using her home care benefits at the age of 74. Now after one year of using the benefits of her policy they increased the premium $700.00 in one year. They said it was a 30% policy increase. How can a 75 year old women afford this policy? It more than what she brings in from her social security benefits for a few months of income. I think it's disgusting after 33 years of paying on a policy that they could legally increase her premium this month within a one year span.

My husband and I purchased two long term care policies when I was 43 and he was 58. Since we were purchasing two policies to cover each of us we were told that if we both lived for seven years after the signing date that my premiums would then be free of charge. We rolled the dice and agreed to the high cost of both policies but felt we were in good shape for the next seven years. When it came time to sign the final documents I did not see this rider language in the policy. Stan assured me that it was there and not to worry. My husband had purchased a life insurance policy from him years back and we felt we had a good relationship so we trusted him. He even called my husband each year on his birthday which we thought was very nice.

When I turned 50 we asked Stan about my fees now dropping due the fact we had lived seven more years, luckily. He said he did not know what we were talking about and he never said that. We were shocked to say the least. We thought we were two intelligent business people doing the best we could to prevent the worse but felt stupid we had been taken for a ride. We still have the policies and now Genworth has sent us a notice that our bill is increasing (once again) now by $500 annually. Thanks so much for the customer service Gen once again!! Luckily, we are still healthy and I'm searching desperately for a new carrier. Long story short - read the fine print and don't trust what the salesman tells you otherwise. And if you do, and he calls you on your birthday, hang up.

My husband had a term life policy with Genworth Life since 02/02/99. Unfortunately, we received notification just three weeks prior to his April 4, 2010 death that his policy was canceled and ineligible for reinstatement. The policy was terminated because he failed to make one quarterly payment for $159.90 prior to the grace period expiring in the fall of 2009. At that point, before a payment would be accepted, the company requested a review of his health. Unfortunately, he had major medical concerns at this juncture and was deemed uninsurable. It is my belief, and I have medical records to substantiate, that his medical condition during the period that his payment would have been accepted was a major contributor to the missed payment.

I have spent over a year appealing to Genworth to pay the claim based on the premise that an individual of sound mind would not intentionally let a long-term life insurance policy lapse when they were in such poor health. One response, dated February 22, 2011, which I received from Ms. Kimberly **, Manager, Life & Annuity Claims Department, states that the information provided does not provide us with a basis to pay this claim under the terms of the contract.

I fully understand the terms of the contract. However, based upon knowledge I have from several cases similar to my own, I am aware that claims are often given consideration and paid based on the circumstances rather than the terms of the contract. Coincidentally, I recently received something in the mail with testimony from Lynn ** in a case very similar to my own. It was part of a brochure from New York Life, my life insurance provider. The major difference between the cases was that her insurance company took the high road and considered her husband’s illness as a factor in the cancellation of his policy, and ultimately paid her claim.

I believe it is inherently wrong that someone should pay for something for the length of time that my husband and I paid for his life insurance, only to lose the entire benefit such a short period before it would be payable. This becomes even more poignant in light of the fact that ill health played a major role in the ultimate outcome. Wouldn’t it stand to reason that the medical conditions causing him to be ineligible for reinstatement might also be a factor in missing the payment? We are talking about the loss of $250,000 over a $159.90 payment, a payment that had been made for over 10 years.

It shouldn’t be up to a company or individual to arbitrarily decide which claims will be paid. Consideration should be given to what the health of the insured was at the time the payment would have still been accepted before lapsing, the length of time the premium had been paid prior to being cancelled and the amount of time between the policy being cancelled and the death of the insured. Insurance is something that is often relied on for survival. The consequences to the beneficiary or living spouse, in a situation such as mine, are life changing and beyond devastating. The consequence is the loss to me, the surviving spouse and beneficiary, of his entire $250,000 policy.

My wife and I have had G.E. and Genworth LTC for 28 years. We had to cancel in 2016 because of rate hike so terrible high, was impossible to continue. Our policy stated there would be some common hikes through the years, but not 100% in two or three years. We are 78 and 75 and are not looking forward for LTC now. That's scary. This is not fair and we want to be in the class action suit.

My wife and I took out LTC policies in 2012. After 6 yrs of paying small increases in our annual premiums, we were notified that starting Aug. 2018 our premiums are increasing 51.5%. We are at the point now that we would be wasting our 5 yrs. of premiums if we dump them. Genworth said this was all legal because an actuarial audit had been performed by them to verify the increases are required. Talk about the fox guarding chicken coop. I've written both of my congressperson about this.

2016 Long-Term Care Rate Hikes - I have been paying on our policies since 2002. We purchased our policies at a younger age because the premiums would be significantly lower. Our purchase was also based on the following material that was part of GE Financial Assistance promotional package (quote): "Provided long-term care protection to prudent Americans since 1974", "More long-term care policies in force than any other company", "A rating of AA Excellent from Standard & Poor's (rating agency)", "Endorsed by over 100 national organizations", "Never raised premiums on existing policyholders". I guess this last point is now moot! Yes I feel lied too!

Sadly are seeing the leading edge of the real serious problems that our current out of control healthcare system (for-profit and not-for-profit) is inflicting on us. It has nothing to do with the ACA (Obamacare) and every thing to do with the fact that America needs to remove profit and capitalism from our healthcare delivery systems - Bernie had it right, a single payer health-care system is the only system that is proven, and it is just waiting for us to adopt it.

Looks like everyone here has the same experience. The agent who sold the policy assured me that I was locking in a lifetime rate. Massive increases every year for the 5 or so I've had the policy. I'm 53 and, as long as I stop wasting money on these **, am lucky enough to have enough money to self-insure. I've given them over $15,000 and have renewed the policy for the last time.

I recently received a letter re an upcoming 25% rate increase. This seems completely excessive. My wife and I, ages 80 and 79, have had the insurance since 2001, with no claims. Is this a standard increase? I've seen several increases in the 10-15% range. I wonder how many other people with this company have received increases of this magnitude with no justification.

The only experience I have with Genworth. As a home health aide I took care of an elderly man, covered by Genworth. They were very difficult to work with. It required a lot of paperwork, they were very particular, with how the paperwork was filled out, and if it didn't meet their expectations they would deny payment. I am currently considering LTC insurance for myself, and received a quote from Genworth... I doubt I'll choose them. I seriously think, they never expected senior citizens to live as long as we have. They have "0" integrity, and should be investigated!

I have experienced the same overnight predatory premium increases described by most previous posters. I was offered the same unsatisfactory 3 options as all, and I declined them all. My policy was then terminated by Genworth due to "Lack of Premium Payment". After a long exchange of correspondence with Genworth, they finally threw me a bone, they offer to pay benefits up to the amount of premiums paid during the life of the policy (in my case $ 40,000+). This measure is not in any way part of the policy I bought. It is a newly suggested offer (apparently made to all who persisted long enough in their complaining).

The fact that no provision for this exists in the purchased policies suggests that this may constitute an acknowledgment of unusual conduct by Genworth when they increased the premiums with no guarantee that it would not be repeated at any time. At any rate, a Class Action Lawsuit has now been started (Dec 28, 2016) on the exact topic addressed by most posters in this blog. It accuses Genworth of a hoax.

We have had their long term care insurance since 2001 with no increase in premiums until about 9 months ago. Now it increased again with a notice this month, May 2016. These increases have amounted to just under $700.00 a quarter. That means nearly $2800.00 a year. This is unbelievable, especially since we are now retired, on a fixed income and may need this coverage before long. How in the world can the insurance commission of every state allow this to happen? We have excellent coverage, one that they no longer write. It's apparent they are attempting to force us to reduce coverage by taking another policy and supposedly reduce our premiums but in fact will continue to raise the rate no matter what we do.

We have well over $60,000 invested in this insurance and feel we can't afford to drop it now but afraid it won't be long and we won't be able to afford it any longer. We feel a class action suit needs to happen against this company. Shame on them for attacking seniors like this, especially when these policies were written they knew full well we were all baby boomers, a lot of us, and the costs to cover needs would likely be great. Naturally one day it had to be paid out so plan for it. That's only Good Business Practice. If a Class Action suit is in the works or to be in the works count us in!!!

I have the insurance since 12/2002. I have spoken to the company once or twice in that time and all my questions were answered immediately. I have a dollar amount of coverage. When the dollar amount of coverage is used then coverage ends. I could use the coverage amount while at home, by having someone come to my home to care for me. However, if I need a medical facility I would be covered for that up to my dollar amount. I believe the value is good. Since I no longer have to pay yearly premiums my coverage is limited. The coverage I have is my choice and I will still receive medical type benefits. I declined to continue to pay the premium because of the cost but I did not lost the premiums I paid. I will have that money to pay future benefits.

My mother has given this company thousands of dollars over the years. She is in assisted living and meets the criteria spelled out in her policy to qualify her for distribution of benefits. They will not pay and keep blocking. She's 94, almost blind, needs a walker, help with medications and daily dressing. It's costing her a fortune, yet Genworth says they need more time to review. This has been going on for 6 months. I now call them every day and get no real answers other than, "it's in review."

Writing in for the individual I care for who took out a policy 15 years ago. Was recently diagnosed with Alzheimer's Disease. After months of phone calls and paperwork they refuse to pay for any home care which is provided for in the policy. This person is unable to live alone but is early for institutional care. Why should I keep paying premiums??? I am wondering if they are going to decline assisted living and memory care? They also tried to pass a bogus increase along last year. This company is not in my opinion honest. They are not in the long term care business. They are in the collect premiums and refuse desperate customers care business!

Can only ask automated service. Several minutes of waiting and no operator answers the phone. Need to pay bill.

We have been paying into our Long Term Care with Genworth for over 10 years. We have put in $40,000. How dare they triple our payments. We were told there would not be a large increase. I agree that we all need to look into a class action lawsuit.

I bought Genworth Long Term Care Ins. 12 years ago at the age of 56. I was told by the sales rep that my premiums would never go up. I'm now retired on a fixed income and just received a letter that I will be getting a 60% increase in my premiums. I have 12 years of payments invested in this policy and now the company puts me up against the wall with little choice? It is obvious from the steep increase that Genworth is trying to force people to cancel their policies. How did the State of New York approve such a large increase? If there is a Class Action Suit count me in.

Premiums have increased 90% in the first 10 years of our policy. Since we bought a specific cash payout ($100/day+5% per year), the actual cost of LTC care should not come into the equation. The implication is that my wife is twice as likely to need LTC as they thought 9 years ago. Unlikely, just fraudulent pricing and reserve accounting to snooker the PA Dept of Insurance. Given their equally bad record of paying up when services are needed, we are going to discontinue the policy. For which we get a "benefit" equal to what we have already paid in.

We started the policy when my wife was 55, she is actuarially unlikely to make a LTC care claim for another 20 years, by which point, because of inflation, the paid in amount will buy about a day of nursing home care. What they should give us in a full refund plus a modest interest rate on what we could have been earning on the paid premiums so we can invest it as hedge our eventual LTC needs. Yes, please sign me up for any class action lawsuits going.

I have read through many of these comments/reviews stating some of the same issues we have had with Genworth's original 'promise' of locked in rates but now faced with a 70% increase this year (3/17). My question is - has anyone found a way to fight this? I feel we are stuck - already paid many years of premiums and would lose a lot if we cancelled - BUT, if we don't cancel, we pay even more - and HIGHER premiums - and maybe not even get the benefits we've been paying for. I don't even trust that Genworth will honor the claims when and if we get to the point we need to file a claim. What's the solution?

After paying hefty and ever increasing premiums these past 15 years, I found it necessary to make claims to my LTC policy. I am 79 yrs old and, since my surgery for cancer of the larynx, have needed home assistance, being frail and debilitated from radiation and chemo and, suffering from COPD, needing oxygen. Okay, I finally "got into the loop" and am reimbursed for the wages I pay my housekeeper /cook/aide/driver for the 24-30 hrs. a month she comes in. My primary complaint would be the "hoops" that Genworth has me jumping through. I have to keep detailed worksheets to have my worker sign and date. I have to pay by check and submit bank statements showing they were processed. My worker gets called and queried. It would seem they would much prefer to provide one of their contracted care providers rather than allow me to select my own help; then making it as inconvenient as possible if I elect to do it "my way". I really feel imposed upon.

My aunt and uncle bought long term care insurance about 30 years ago. The company is now Genworth. My uncle paid it 15 years and died before he used it. My aunt had to move into assisted living and has paid it faithfully all these years. Now they are refusing to pay for her care even though she has to have help with every day to day activity and uses a walker or wheelchair!! This company is horrible in my opinion. We are having to secure a lawyer to fight them to get what is rightfully owed to her.

I have had this lifetime provision Long Term Care Policy From Genworth for a long time now, and have been faithful to pay premiums, and premium increases along the way. But , today I received notice that my premium was going to be increased by 78% this coming October. My premium is going up from $179.19 per month to $318.94. It's obvious to me the company is in serious trouble, and possible would not be able to pay their claims anyway. I have the choice to go down from lifetime coverage to five year coverage, and then will still have a 25% rate increase. No promise about future premium increases, but suspect there will be more increases each year. DO NOT BUY LONG TIME CARE FROM THIS COMPANY! Genworth Long Term Care business ethics are rotten to the core, and need to be investigated!

We paid for the insurance for years, but never used it. So all I have to comment on is their customer service (or lack thereof). When I got laid off, we couldn't afford it anymore, so I called to cancel. They said I could cancel mine over the phone, but I could not cancel on behalf of my wife (she would have to send a written request). I figured that makes sense, but just to be safe, we BOTH sent in a hand written cancellation request.

Next month, I got billed again. When I called to complain, they apologized, saying they had received the cancellation and would refund the payment. Not only did they not refund the payment, they still didn't cancel the policy. Then the next month when I called, they said it was because the written request didn't have a handwritten signature (something they never told me was needed). What makes this all more frustrating is that my original letter specifically requested them to let me know if anything else was needed to cancel the policy. If they had just done that, it all could have been cleared up 2 months ago.

Proposed acquisition for $2.7 billion by China Oceanwide. As a long term care policy holder, I am concerned about the absence of any agency, group, etc. that will protect my interest (or that of any other LTC policy holder) in this transaction. Is there anyone with a similar concern or can identify possible help? Thank you.

Shame on Genworth for such an unreasonable rate increase on Long Term Health Care premiums. A 60% rate increase is unconscionable and an abuse of the public trust. What's worse is the approval of such an increase by New York State. Insurance companies continue to bag the big bucks with the help of the government while us hardworking citizens get the shaft. Class action, I'm in!

This company has no integrity. They're greedy pigs. They just raised my LTC premiums 26% over the next three years. And they did it before or as part of the Chinese acquisition deal. We've had our policy for more than thirteen years and since GE spun them off there's been a steady increase in rates but not exceeding our 5% guaranteed inflation protection.

Now here's the real reason they raising our rates: we have lifetime benefits and there is no benefit limit over that time. It's a great policy and that's why they want to force us into less coverage for lower premiums. They told me they've decided to raise my rates because I will cost them more than they projected when we signed. I'm 13 years older and actuarially a whole lot closer to the end. So even if I started my benefits tomorrow, it's highly unlikely I would cost them anymore than they originally projected.

I'm going to contact the California Insurance Commission to see what moron approved this increase. Another example of how the Seniors and in my case veterans get screwed in their health care coverage and costs. This is tantamount to elder financial and emotional abuse and I'll be pursuing my rights under the prevention laws thereof.

I bought two long term care insurance policies, one for me and one for my wife, back when the company was GE. I have been paying the premiums for about 14 years with no claims and we do not need to use their services now. However, since the company has shifted to Genworth, I have had several premium raises for each policy and I just received another letter stating that they will raise both premiums again in May 2014 and that more future raises are on the way. Needless to say, I am not happy. I would like to know if there is any way to recover most of the money I have paid in premiums, if I cancel both policies. If the information from other policy holders that have commented on this site is accurate, It looks like this is a long term scam and I want to get out before I pay more money or need the service. If anyone is organizing a class action suit, I would like to know about it.

Like many of the other consumers who have written about Genworth Insurance, I too have had a 30% increase in premiums in the past two years. I sent e-mails to Genworth asking specific questions about my policy. The only reply I received is that they had received my e-mail. However, as my renewal dateline approaches I have not heard back from Genworth concerning my questions. When I spoke with their Customer Service Team they told me the answers to my question were "in the mail" and that their letter had been mailed 10 days ago. I have received nothing to date.

A more skeptical person than myself might suspect that they are purposely dragging their feet in the hopes that my current policy (that I have paid into for 15 years) will run out and they made a nice multi-thousand profit and not paid out one cent. (I wonder if a picture of Bernie Madoff hangs in their offices). I'm concerned that websites such as this one allow consumers to let off steam but accomplish little else. If a class action is filed against this company - count me in.

Have appreciated the comments thus far as we review and make a decision regarding whether to continue to pay premiums or not. My husband is turning 70 this year... we bought about 10 years ago. We had a 33% increase this year. That's bad enough... but it sounds like there is no guarantee that it will stay even at that, but that they could continue to rake in big money the older we get, when we can afford it less. Like many, we were told they rarely raised premiums, and if they would, it would be by maybe 4 to 5% increments. Discouraging.

Please contact me if anyone can start a class action suit against this company so I can be included in it. I have been paying my premiums for many years and now, like others, have this tremendous cost increase which is unfair to me, my wife and all the elderly. I can no longer afford it! I was told that I do not have to worry about a premium increase .

Genworth recently increased premiums 60% which is disgraceful. As I've read suit has been filed by shareholders for gross mismanagement of funds. Called Genworth to reduce benefits to keep same premium however this is not an option. If there is a policyholder class action suit in the works please advise. We should all take part.

Take a %130 hike or lose LTC! I invested in LTC with Genworth so as not to be a burden should I need it. I was told there would never be a significant increase. This was definitely significant and I was told pay it or I could use what I had accrued for Long Term Care at $300 per day which would last less than three months! I was told by Genworth in 2016 that the actuaries had made an error in calculation way back when I first purchased the policy! I asked for a payout and to close the account but was told it is not possible. There are now 240 complaints on this platform. Is there any way for us to file a complaint as a group?

Yes, I believe that back in the 1990s when policy was initially offered thru GE, the info was very much slanted to NO FUTURE rate revisions, only periodic increases to keep up with inflation on daily coverage amounts, etc. Enrollment and paying the premiums was supposed to lock us in on the coverage morsel that was offered. Class Action would very much be an option I support. I am not protesting any of the other features of the plans, only the Fall of 2013 determination to apply a whole new rate schedule, "experience based".

The actuaries were very competent back at time policy was written, check the corporate legal due diligence documents and court filings associated with divestiture, GE spinning this group off, and GE later never identifying that GE Financial was incapable of actuarial accuracy on Insurance. No actuarial schedule is ever perfect. That's where management has to have other strategies reserve decisions, to achieve investment results, reserve adjustments, etc., disappointing claims experience (or forecasts) isn't adequate cause. State Insurance people were given a slanted version. Class action should look at evidence that disproves the actuarial issue. I am pretty sure that if actuaries were inept that data would not only be accessible in court action, but also would have to be evident in the various legal topics that are filed in corporate mergers and reorganizations. So, Yes, class action would be viable.

My husband and I signed up for premium long term care insurance through GE Financial Insurance in 2001. At that time, he was 55 and I was 49. We bought a premium policy which had an unlimited benefit period. The brochure which we received stated, and I quote "Careful and thorough underwriting enables us to provide clients like you, who qualify, with the best coverage possible at a stable premium rate." We were told if we began our policy while we were still relatively young, it would minimize the premiums.

Now Genworth Financial (formerly GE) is raising our premiums again. They are implementing a staged premium increase over the next three years which will bring our premiums to almost three times our initial premium from 2001. I did an analysis which would trend our projected yearly cost to approximately $9000/year by the time my husband reaches 80. Since we are both retired and living on a fairly small income, it would be impossible for us to maintain those premiums. We feel we were sold our policies with a specific set of benefits and told that the premiums would be stable. In my mind, 3 times the base rate is hardly stable.

Genworth's offer is for them to recast our policy with less benefits in order to "stabilize" our premiums. They are not offering any guarantee that our premiums will not increase again in the future or that we will not be forced to take even fewer benefits in order to maintain any long term care options downstream. They will not refund the premiums we have paid them. Our only option is to take less benefits or continue to pay the premiums at whatever increase they decide to implement. Currently we are waiting for their proposal options in order to make an informed decision but we are furious and frustrated with Genworth financial.

In 2001 my late husband and I decided to sign on to Genworth Long Term Care policy. My portion of the yearly premium at that time was $965.74. My husband died in June, 2006. I continued to pay my premiums every year until Feb. 2016 when they increased my yearly premium to $3689.36 which represents a 282 percent increase.

I am now 83 years and I am very sure if I continued to contribute to them the premiums would continue to increase drastically and their arbitrary increases would become even more prohibitive. They offered me a Contingent Non-Forfeiture value contract of $33.643.99 with a 100 day waiting period and maximum $158.00/day with no further payments due which I decided to accept as I have no other alternative. This company is making it impossible for seniors to continue to pay these prohibitive fees. I have never ever filed a claim with them and I always hoped I would never have the necessity to do so. They know seniors cannot afford these unreasonable premium increases and are taking unfair advantage of us as we age. This is unfair and should not be allowed.

They have a simple billing and payment process. Policy is clearly explained. I have no need to use customer service. I just pay a bill annually. There are a number of options, each clearly explained. Comparisons were made (at the time of purchase) to current rates. Projections of possible costs and scenarios were clearly laid out. I opted for complete coverage, with an initial period of 3 months self-pay before coverage kicks in. It was the costliest option but it's what my husband wanted because of health issues he had seen his father go through. It seemed very expensive at the time that we signed up but was comparable to other plans and had the best ratings. So far, the rates have not changed while the rates of other companies have changed.

Genworth Financial - Is it a takeoff of The Rainmaker or is it a Ponzi scheme? I bought a Long Term Care policy in the 1990s and have been paying the premiums regularly since then. The quarterly premiums have gone up from about $950.00 to $1105.78 at the present. BUT now they are raising the payments by 60 percent. It seems obvious to me that their intent is to force their policyholders to cancel their policies before they can be used and thereby reap a huge windfall of money. Therefore, I am suggesting a Class Action lawsuit be filed to stop this egregious process from proceeding any further or that a cash buyout be offered to those policyholders who no longer trust this company.

I don't know what to do. I'm 65 and now coming into the years when I need it. Google Genworth Long Term Care profit margins. I'm just sick. Am I throwing good money after bad?

We bought our policy in 1999. I was 53 and my wife was 52. It is their best policy and in their info packet it states that they do have the right to increase rates with a long drawn out procedure. It states their goal has been to price the long term care policies so that premiums will remain at original levels for the duration of the policies. It goes on to explain what would cause an increase. In my mind it would have to be catastrophic loss of many lives to cause the increase. I am 67 now and my health isn't the best so buying this insurance is cost prohibitive if it were even available to me. We just received a notice that our premium would be increasing by 78% and no explanation.

Missouri has not had untold deaths above the norm and it states health nor age would cause an increase. They have provided different coverage of much lesser and shorter time periods so we can still afford it. My wife's annual premium was and has remained $546 but mine started out at $1160.00 annually and has gone up every year. Last year it was $1549.76. That's 34% over the years and now they want another 78%. It's their business and they know older people can't afford or even find policies so you are at their mercy. I would advise anyone to run from this company.

My Long Term Care Premiums went up 15% this year. For the first time the notification also advised that premiums could continue to rise in future years. Genworth appears to be in a downward spiral. My 5 years of payments might be wasted. I would take part in any class action suit if there is one. My agent focused on Genworth's 34 years with no increase. She said, "Don't worry about the rate. Whatever it is, it will stay the same." Also, she concentrated on the AARP endorsement (which is now gone). Company is truly mismanaging their business at the cost of retirees who wanted to ensure they would not cause a hardship for their children.

Mr. ** purchased his long-term care policy on 12/17/1998. His policy ended 12/17/09 due to a lapse in payment. Mr. **'s step daughter Sue ** was mailed letters from Genworth notifying her of the policy termination. However, Ms. ** was in the process of moving from Idaho to Arizona and did not receive the letters. The policy's grace period ended 3/17/2010. On 3/20/11, TRESCO of Idaho was appointed conservator for Mr. ** due to dementia. On 12/13/11, TRESCO called Genworth to see if Mr. **'s medical documentation could be submitted to prove Mr. **'s need for benefits under his policy from December 2009 through March 2011 and currently. Mr. ** has paid over $110,000.00 in premiums. Genworth said no. I would like Genworth to consider providing Mr. ** with some benefits due to his time as a faithful client. Please respond to this letter within the next two (2) weeks. If TRESCO does not hear from a Genworth representative in this time frame, TRESCO intends to contact the Idaho Department of Insurance.

Sometimes, the employees tend to be a little standoffish which is not a good thing. I expect to feel welcomed into the company like family. But instead, I feel like they feel as though they're obligated to be nice to me. Policy options stand well with me right now. I just like the company and the way that they handle themselves. Which is why I would recommend it to my friends and family. Coverage isn't that well with me. However, they do make me happy most of the time which is why I chose that option. I just think the employees should be taught to be nicer to their clients.

My 88-year-old mother has been paying Genworth Insurance long term care premiums for over 15 years and they continue to raise her costs. The most recent premium increase is 63%. It appears obvious that they are trying to drive her to drop the policy before as she ages and is more likely to have a claim. This is really a sleazy company and should be investigated by insurance regulators.

I bought my GE Long-term Insurance policy in 2004 and continued with it for 13 years. I just got the notice of a premium increase of 15% coming up in May 2017. There has been a steady increase in premiums every year of 15% every June going back to 2014 that I can verify. This is a slow creep to an ever higher premium, that will eventually become overwhelming for many people. I purchased the bare bones of the coverage years ago and can't really afford to pay such a premium and go down to a lesser benefit. It would hardly be worth the effort and money. I haven't had much contact with them to describe their customer service.

I want to join with other policy holders in protesting the recent rate increases for long term policy holders. My increase is 95% and I am 85 years old. I have paid for over 20 years and my deceased wife's policy expired without a claim. I will join a class action if reasonable.

It has been extremely difficult to work with this company. We had our 93 year old mother approved for full care at home benefits. She has become much worse and has Alzheimer's so we moved her to assisted living facility because she needs more care. This company decides to reassess her with a nurse that said she does not meet their requirements. So they just stopped paying her benefits and say they are looking into it. Both her Dr. and the neurologist said she needs care and she can’t take care of herself.

This has been going on 3 months. Every time I talk to them they change their story. I am her POA and guardian, all correspondence is to be sent to me but they continually send mail to wrong addresses. We hope and pray they get this straightened out because this is very stressful financially for the family. She has been paying for this insurance since 1997 and it is now time for her be able to use it.

After seven years with Genworth, we have been hit this year with a 60% rate increase. I have been looking for a way to bring a class action suit against this company. My husband and I simply cannot afford to pay the new rates, but we are in our seventies and are likely to need the coverage. Through research I have uncovered the shady financial practices at Genworth. What is in the news now is the securities lawsuit, but in 2009 a lawsuit was brought against them for the alleged transfer of assets out of its long-term care reserves (the plaintiff lost). Had those assets remained in place, the argument went, they would have generated enough funds to cover the future costs of Genworth's LTC clients. I called the New York State Insurance Department and their lawyer explained that the rate increase was approved by the state. Some consumer protection agency!

So scams are abundant, avoid long term care. Before I turned 50 and before and health issues I signed up for long-term care with use to be GE Capital and is presently Genworth insurance. My rates have been 3456 per year and I have paid over 15 years. Adds up to 45,456 dollars. This year the rate increased to $9770.00. I am researching and finding that there are several class action suits on Genworth and that they recently sold their long term insurance to China. Not another dime and I will see what I can do to fight this. Any ideas are appreciated. Thanks. Had to vent.

I own a company that provides care to one of their policyholders. They keep mailing my payments to the wrong address. Three times I sent them revised W-9's and four times spoke to representatives on the phone, all claiming they would correct my address. Seven requests over about four months and they still mail to the wrong address. What a pathetic, brainless company.

I have been fighting for benefits for my mother who is almost 92 years old. She needs daily care, but doesn't qualify according to Genworth. The fact that she can't walk, doesn't matter in her policy. The fact that she needs help to prepare her meals, is not in her policy. Genworth was happy to collect premiums for 18 years, and now makes it impossible to collect anything. And... she must keep paying her premium. I am furious with this company and would tell everyone to cancel their policy. They think they will get help when they need it... forget it. Genworth will do everything not to pay.

6 years ago when my wife and I took out our long term health policy, we were told that this premium would never increase. Having paid the same for the past 6 years we just received our renewal with a 60% increase. This is criminal. I of course will stop paying into this company since nothing is to stop from continuing to increase premiums and the policyholder can kiss all of their money goodbye.

A representative from Genworth came to my house and explained the different priced plans her company had to offer. A few days after she left, I got a bill from Genworth for $5,080.50! It was my understanding that I had not picked a plan or even signed up for the insurance. Apparently their representative had sat in my house and lied to me. I am so angry at being tricked this way. I wrote a letter to Genworth HQ telling them to cancel any policy she had signed me up for and never contact me again. I believe this company uses dishonest tactics to get people's money.

3 rate increases in last 36 months - Took out insurance through GE Capital in 2004. A few years later Genworth took over. In 2015 there was a 15.98% premium increase. In 2017 there was a 12% increase premium increase. In 2018 just got hit with a 20% increase. Those compound to 56% over that time. That's unsustainable. At some point you know that the bait and switch is in full utilization. Come on here and read of only dissatisfaction with how Genworth was less than accommodating to those who needed to start utilizing their benefits. We consumers felt we had a vehicle to reduce our risks in old age, not so fast. They got our money to play with for decades and as old age is being reached they are taking aggressive steps to weed us out of their system. Here in Georgia, the Insurance Commissioner, Ralph Hudgens gives them a wink and a nod, a slap on the back and all but says, "YOUR WISH IS MY COMMAND." Disheartening.

Genworth called back three days after I made my first claim call. But no one was on the line. "Hello? Hello?" My mute button wasn't on. I had received calls all morning. Genworth called back a second time. Same thing. No one on the line. So I called Genworth back. After a six minute hold, "Sorry no one is available to take your call. What number can we call you back." Total scam against existing customers who have paid THOUSANDS into policies and now when it's time to pay up, SILENCE.

Yes, as others have stated, at the time we bought our shared long term care, one selling point was how great GE's track record was at pricing policies so there had been no price increases. There have been price increases every year since Genworth took over. But the increase this year is over 60%. We are very unhappy and disappointed.

Genworth must be investigated and anyone who approves these outrageous increases. I have an LTC policy with Genworth which I originally purchased from General Electric over 15 years ago. I just received a premium increase from Genworth of 72%. I was paying $7,365.03 annually. It has been increased to $12,667.75. Is this legal? Over the last 5 years my premium has increased $8,365.03. I do not recommend Genworth.

My Parents had to move into assisted living in Dec. last year. Years before they had purchased a LTC policy (at my urging, I had purchased LTC for my wife and myself also). The move for my parents came unexpected and was made quickly when they applied for their LTC. I understand it takes time to process new claims and All the people I have dealt with at Genworth have been very nice, but nice doesn't pay the bills. After more than a hundred days they finally started to receive benefits, but not before being subjected to endless roadblocks and what is beginning to seem like senior harassment. Both parents are in their Nineties and need help to manage daily life.

The assessment reviews requested by Genworth and conducted by third party private assessors are a joke. I have sat through many of these and watched in pain as my parents struggle to maintain their pride and dignity while trying to answer the questions. This all boils down to a 10-20 minute interview/assessment that affects their lives and Genworth's obligations to pay them what they bought in good faith and have invested in for years. Well GW finally got an assessment that favored them, Dad no longer qualifies (under the small print) for LTC. Even with the LTC payments it takes all of my wife's and my SS each month to pay their bills (meds, Dr.'s. etc.).

My husband and I took out long term care policies with Genworth in 2010 when we were 60 years old. Genworth had been recommended to me by USAA, the company we use for all of our insurance needs. After researching several companies, I chose Genworth. Last week we received a letter telling us our rate would be increasing $150 a month! Now we will need to win the lottery. When I called, the representative said they had miscalculated the costs in the state of Texas but later admitted it was going on in other states, too. He also acknowledged that there was a possibility of a class action lawsuit. Count me in!

After reading all of others premium increases forced by Genworth, I can only say me too. Since 2000 my rates were pretty solid until 3 years ago and then I was hit with two back to back 11 percent hikes, and now in 2013, I got a 47 percent hit. After reading all complaints, it seems options are not all that thrilling. Am beginning to look for a class action suit somewhere...

My wife and I were most dissatisfied with the large rate increase from Genworth last month. Their reasoning for the increase indicated corporate inexperience and/or gross lack of knowledge in the business of long term health insurance. We have had our policies for approximately 12 years. The choices left to the policy holder regarding this increase is to either pay the full premium including the increase, reduce the premium by reducing the benefits or term of the policy or "walk"!!! My wife has Stage 4 ovarian cancer and we will need home health care immediately. Being 75 years old, I don't look forward to making the initial phone call to Genworth on Monday to begin the process of arranging home health care.

Genworth recently raised my already outrageous insurance premium for my LTC policy by 60% from approximately $2,400.00 per yr to $3,600.00 per year. I've struggled to pay these premiums for the longest time. I've never in all my day, and I'm no spring chicken hence, the need for LTC insurance, seen anything as preposterous as this. I could understand an increase of 10-20% or even more depending on the circumstances however an increase of 60% indicates to me the company has made bad business decisions and is unstable. Therefore I am looking elsewhere for coverage.

What they should have done if they desperately needed such a boost in revenue was grandfather the existing policy holders and increase premiums on any new policies they write. Or, increase premiums on a graduating scale inversely proportional to and based on the tenure of the policyholder. That is to say, the older the policy the less the increase. No matter what they could have come up with a way to lessen the burden on seniors which is the whole purpose of LTC policies in the first place. These policies in NY boast a NY state partnership with certain LTC carriers such as Genworth in which either the state subsidizes the cost of the policies in lieu of carrying the larger burden and cost of nursing home care. At least, this is what they would have like you to believe so they can sell more policies, and, as I was made to understand.

I later found out this is not true. They do provide for a personal tax deduction of the premiums. Interestingly, the whole idea of a 60% increase may accomplish precisely the opposite of what Genwroth anticipates since, I, like many other people are struggling to pay the existing high premiums and may be forced to drop the policies. Many people will undoubtedly not be able to maintain the burden and have to seek other alternatives. If Genworth made such bad decisions and can't afford to pay their claims, which I suspect is the reason for such an outlandish and what in my opinion is bordering criminal act, then there should be some regulatory agency that should investigate both the lawfulness of their business activities namely the credibility and legality of the increases and then consider a class action suit against the company for unethical and unfair and immoral and deceitful business practices.

I don't think anyone would have signed on with Genworth had they known of a potential increase of 60%. In addition, this may not be the last increase. One thing for certain I am going to spearhead an all-out, no holds barred campaign to discredit Genworth in such a way they will never be able to sell another LTC policy and may even end up having to make amends for the damages and heartache they have already caused for so many peoples and, negatively affected so many lives. As for now I will be shopping around for LTC coverage with another carrier. Genworth you should hang your head in shame!!! What kind of idiots do you have running your company that could not foresee this happening and make the necessary adjustments? Insurance can be a very profitable business in general and five year old could have managed this situation better. Idiots!! The lot of you!!!

We have had Genworth Long Term Care insurance for a couple of years and have paid about $13,000 so far. In the last couple of days, we received notice of 54% increase on my policy and 60% increase on my wife's policy. When we took the policies out, we were told that there could be an increase of premiums in the future but we didn't expect one so soon and in such a large amount. This is completely unfair on the part of Genworth since it is putting us and many others in a very precarious position involving our future financial positions. Since many of us can't afford these huge premium increases and already have lost a lot of money if we cancel the policies, a class action lawsuit might be necessary.

If Genworth is actually granted permission to raise rates in California almost 96%, then all subscribers should be given the option to get out of the program with a complete refund of all premiums paid PLUS interest! I signed up for Long Term Care in 2001. I was told if I died before 65, all premiums would be refunded minus benefits. Well, Genworth is effectively killing off this program for most of us before we can use it and after we have been paying 15 years of premiums. Genworth should be FORCED to return all premiums paid plus interest, given their usurious policies. What a hoax this has turned out to be!

My parents purchased LTC insurance for my Mom 13 years ago. They have never filed a claim. Now they just got a notice that the premium is going up 39%. It is also very confusing that it says they "will not seek an additional rate increase on policy for at least 5 years from 05/02/2013". What am I missing... Wouldn't that be 3 years since we are already 2 years into that statement, or should they not be raising it until 2018, since that is 5 years from said date? So now what... Do you pay the 39% or drop the policy and let 13 years of payments go down the drain. It is very hard to deal with that kind of increase while on a fixed income.

They certainly aren't getting 39% increases in medicare and social security, and interest on their small pension and bank accounts is basically nonexistent. I realize that LTC is very expensive, but it seems that they are trying to price people out before they can use that policy. Wouldn't it make more sense to raise the rates for new customers? I suppose that would limit the number of people that would sign up. But if everyone drops their policies, Genworth won't make money either.

I purchased the LTC policy in 1997 through GE employee plan, supposedly locking in lower premiums. Now at age 70, they announced a 35% increase in my monthly premium to be deducted from my small, fixed pension for no reason but profits. Now they say I have no recourse but to lower my benefit amount or just cancel it if I don't have the money to cover the $82/month premium. This is immoral, unethical and unconscionable for them to gain approval to do this to a retiree class group because they reached a certain age. Total ripoff! Where is the government oversight? Where is the states' accountability? Shameful for GE/Genworth to prey on their defenseless elderly clients!

I totally agree with the other evaluators. My wife and I bought these policies about 15 years ago. We have pain in about $46,000 in premiums here in NY. Now we are being priced out of the market with MY APPROVAL! Genworth made a bad deal and now wants to back out and steal millions in paid premiums when those buying them will start needing them. I am now 67 and my wife is 61 with increasing health issues/disabilities. DO NOT BUY THIS TYPE OF INSURANCE. We should have banked the money instead.

See my Facebook page: LONG TERM INSURANCE CROOKS. File a complaint with your state consumer protection agency and contact your representatives. They said this is not age discrimination. I beg to differ. These policies were bought by a specific age group targeted by the increase. Instead of charging more for new policies and suffering the loss of more suckers like us they now want to simply back out by pricing us out. Makes me wonder who in my state (NY) is protecting us. A class action would be welcome. Perhaps a criminal investigation as well.

Borderline Fraud. We paid over $100,000 in premiums. When we needed to make use of our benefits, we were discouraged from applying for them for months. We were told outright by the evaluating nurse that we should have had help months earlier. Then, when we were finally deemed eligible, they have delayed & obfuscated interminably on a payout that turns out to be pennies on the dollars we put in. They still have not settled our claim. I do NOT recommend this company to anyone.

My wife and I each bought a long term care policy from Genworth 9 years ago. In July 2015, we were informed our premiums will increase 60% effective September 2015. The alternatives they offered to reduce the amount of increase would result in material and unacceptable benefit reductions, e.g.: reduce the maximum benefit period from "life" to 4 years. I feel the magnitude of the increase is unconscionable. I also feel the New York State Insurance Department which allowed the 60% increase has failed to protect the consumer.

I took out my long-term care policy 11 years ago. Before deciding on a plan, the salesperson presented me with printouts showing the costs and benefits of several plans from which I could choose. At the bottom of each printout it states "While our Long Term Care Division reserves the right to raise future premiums for all policyholders by state and class, it has never had to do so since it pioneered long term care insurance more than 30 years ago. And, your premiums will never increase due to changes in your health status or your age." So I was informed, in writing, that there could be premium increases.

About 2 years ago I received a letter from Genworth notifying me of future premium increases. These increases totaled 12.1% over a three year period, so I'm puzzled about the much larger increases to which other policyholders have been subjected. HOWEVER, I am concerned about the financial strength of Genworth Life Insurance Company which issued my policy. As of 11/7/17, A. M. Best gives the company a "B" which translates as "FAIR", Standard and Poor's gives the company a "B+" which translates as "WEAK", and Moody's gives the company a "B2" which translates as "POOR". Because of the company's financial weakness and the poor ratings given to it on this website I'm seriously considering self-insuring rather than paying $2,600 next year and who knows how much in the years to come for my policy.

I applied for Long Term Care Insurance with Genworth. I am a Licensed Chemical Dependency Professional who has been sober for 23 years. I have been on medications for depression and am stable on medications. Genworth not only turned me down because of my history of 23 years ago, they sent me a letter after turning me down saying I had been accepted. They are bloodless bean counters who use formulas that have no relevance to the individual applying for their insurance. Avoid them at all costs.

I read the negative reviews and now I am scared to continue to pay. I Am in over $20,000 worth and my payment is due this month for the year. I am concerned re the client in intensive care and coming home to declined care at home even though cannot do ADL on her own. This is scary. Also, I am on fixed income. If it goes up very much, I can't pay and lose my money. I want reassurances about these things.

We have been paying for Long Term Care with Genworth since 2006. Recently we have been notified that our premium rate increase has gone up considerably. We have never made a claim on this policy. (Not that should matter to those that have.) Foolishly, until this increase was imposed, I have not done the research needed to inquire on the integrity of this company. I am only beginning to do the necessary background checking. Sadly... At this point, what I am discovering is "fraudulent denials of care, and a company that cares only about profits."

I will continue to do my due diligence and would hope that we could join together in an effort to be HEARD loud and clear. Let's help each other. I am not an attorney, I am not an activist, I am just an angry senior who will not just sit back and throw my hard earned money out the back door. If you have any ideas for a contact/connections... Please respond! I would be willing to post my email if needed.

My wife and I have held Genworth Long Term Care Insurance policies for decades without making any claims. In October 2015 we were told our premiums will increase by a whopping 60% unless we drastically reduce our coverage. Genworth appears to be targeting long-time customers who are now old enough that it would be very expensive to open new LT Care policies with a different company. I'd understand reasonable premium increases based on rising medical costs, but 60% is absurd.

We received a letter in the mail from Genworth Long Term Care insurance that there is a change in our policy. They want to raise our long term care insurance by 60% next month. They say that their decision is not based on age, health, claims history or any other characteristic or current economic environment. Their decision to increase is based on the fact that expect claims over the life of our policy are higher today than was anticipate when our policy was originally price. As a result rate increase is warranted. This is totally unacceptable. We are looking elsewhere for LTC insurance. We want others who have their insurance with this company to be aware of the increase.

When I (a widowed senior) purchased my LTC policy from Genworth, It was represented as a policy in which the premiums would not go up unless the entire class of policies had an increase. Premium increases were adjusted year to year for NEW customers. WOW! I just received the letter informing me that to retain my current policy would require an increase of 50.55% (correct, that is Fifty percent) effective January 1. This would be more than $1200 for the year for me. There was a 10% increase last year which I questioned; but, this is unbelievable. I will definitely be acquiring LTC insurance elsewhere.

I contacted Genworth and they stated that their letter of July 3, 2013 was to raise my annual rates another 60% per year! They have already doubled since I bought the policy 12 years ago. At 66, I can no longer get this insurance, and it is NO LONGER affordable. They are scamming their clients - since they sold the policy based on never raising the rates more than 5% per annum.

I called the legislative body in Lansing, Dept. of Insurance and Financial Affairs, the governing body that gave Genworth the right to raise our rates based on "expected future costs". I tried to talk to the Director (KEVIN CLINTON) who would not accept my call, nor will he call you. I spoke to a supervisor, Renee **, who informed me that according to Michigan statutes, they allow insurance companies to raise rates - they just don't govern how much - how great? Another state agency that doesn't protect the constituents who pay their wages!!

We should get a class action suit against Genworth AND the State of Michigan Dept. of Insurance and Financial Affairs - allowing such lunacy against the people.

I am a single woman age 63, soon to be 64 and took out this policy in 2009. I have paid on it as agreed and it has been a struggle as I am a working professional but the extra policy was a strain on my budget. I, like others, was told my rates would never increase and if they should it would be very minimal, and this is what was so attractive to me. I work in the healthcare business and have seen our geriatric population pay on policies for years only to discover when they need it the policy has devalued so that only a fraction of the cost if covered.

The agent was very diligent to show me the "expected" progression of costs vs payments. Like others I was told, "New policyholders would bear the burden of any large increases that would occur." I know health care has obviously increased. I work the business but my policy has increased hugely, almost 50%!! Who can work that into a budget that is already on a fixed income with the expectation I didn't need to worry about this going up so significantly? Now we are being told Genworth is being acquired by "China Overseas" (something like that) and how they are putting a billion dollars+ into the company for the "stockholders benefit."

Why can this money not offset the increase in premiums to the elderly people who have paid and now have promises broken and trust certainly broken? Why can the new, younger policyholders still in prime of life with income increases still to come not bear the burden of the increases as we were led to believe? What kind of ethics can be expected now? I have always sung the praises of Long-term Care and Genworth but will not going forward. I do still believe LTC is necessary but not at these costs. I also want to know what percent of my payments could be repaid so I can invest privately to gain interest and pay privately for LTC if necessary.

At the premium amount I have paid yearly, the interest would be great and my return greater. Now I am left with nothing and have never filed a claim and may never have to. I know when I retire I will not be able to continue payments so I am caught in a huge dilemma with a big decision and huge monetary loss that may be just out the window and my money has only gone to pay for others care and line the pockets of executives and stockholders! Very very disappointed.

I've read, with interest, others who feel the same as I do. I purchased a long-term policy when it was sold by GE. I've paid premiums on time. I lowered my coverage when they increased the premium in 2013. This year's increase brings the premium back to what I would have had to pay in 2013 if I hadn't lowered coverage. The premium will, in effect, almost double the 2013 premium by 2016. I would like to be informed if there is a class-action lawsuit being considered.

Genworth is trying to "isolate" the Long Term Care part of their business from their other insurance products. I believe the ultimate goal of their strategy is to isolate the LTC business with the assistance of the State Regulatory Commissions so that they can make this business "insolvent" which will force the policies to be administered by various states' "Life and Health Insurance Guaranty Associations." Usually the maximum amount of this coverage would only be $300,000 and you would still have to pay the premiums. Between 2009 and 2014 Genworth claims to have lost over $2 billion and have requested rate increases ranging from 33 to 130 percent.

In 2013 they increased our premiums by 44% and 60%. I read from others in New York state that they are getting 60% increases. I think my wife and I are going to cut our losses and not pay any more premiums after had paid $44,000 for the past 13 years. PLEASE WRITE TO YOUR RESPECTIVE GOVERNORS AND STATE INSURANCE COMMISSIONERS WITH YOUR CONCERNS.

This is the third year Genworth has failed in a timely manner to issue an annual billing statement. During the past two years I have had to call them and ask why I didn't receive a bill. I never received an intelligent answer. But, a bill showed up shortly thereafter. This year it is the same thing all over. My policy expires on July 26, 2015 and I have not received a bill yet. This could be a scam to cause the policy holder to not pay on a timely basis and have the policy cancelled for non-payment.

First my question to all, is it a financial and HIPAA violation of all Genworth LTC Policy Holders to be acquired by China Oceanwide Holdings Group Co. Ltd without even sending informed consents to consumers? Sadly, we are outsourcing our LTC rights! Second, are USA Genworth consumers going to compromise their LTC cost and benefits on the issues of raising premiums, because Lu Zhiqiang said in a statement referred in ThinkAdvisor Oct 2, 2017, as he wants to complete this deal due to its importance to his company, as it wants to use Genworth's expertise in long-term care insurance in exchange of 2.7 billion cash to help China's 231 million residents over the age of 60.

If Federal regulators have raised question about national security concerns in connection with China Oceanwide Holdings Group Co. Ltd. to acquire Genworth Financial Inc., WHY ARE WE QUIET ABOUT THIS! As a couple we have Genworth LTC insurance since 2006. We were sold this insurance by our ex-financial adviser with an understanding that we will pay fixed higher annual premiums for the first 10 years for this joint LTC account, as long as we kept a NO claim status during this period. Apparently, this is NOT true. We received a statement this year with an increase of 51.50% in premiums after we have invested $50K into this insurance. While Genworth invested my money and made a handsome interest off my premiums all these year, makes a bargains deal with China Oceanwide Inc. Need a class action lawsuit filed ASAP!

My mother has been paying Genworth now for over 15 years. She fell and broke her hip and need to use the services. She is in a wheel chair and can’t get up at all. She has been denied payment countless times and has over $230K in benefits but can’t get to them. They send people to check on her all the time and then go back to the company and cut her benefits and will not pay. If you want service and get the money you spent years collect, this is not the company that you need to look at. You will not get your money back. Period!

My wife and I have had Genworth LTC insurance for thirty years. Now that we are retired and on a fixed income, they have raised our premiums so high it's impossible to keep the insurance. They do not seem to care that we had their insurance for that many years and never missed a payment. There is no remorse from this company. It's not fair for us to just give up that many years and money down the drain. There should be some kind of consideration of payback.

I paid my premiums for my term life policy and just 11 days after pay them, I cancelled the policy and then received a letter from Genworth saying that there would not be a refund of my $630 premium... not even pro-rated for the 11 days.

My dad bought a policy from GE Capital several years ago for my mom. Genworth Financial Life Insurance bought it. When we needed home health care for my mom, they were very good. When I had called them letting them know my mom was going into a nursing home, they told me they pay $100.00 a day. We got the approval for the nursing home from Genworth. There was $150.00 that Medicare does not pay a day for nursing homes. We paid the nursing home $150.00 a day that was not covered. Genworth was supposed to reimburse us $100.00 a day. Which came up to over $8,000. They refuse to pay us one cent. In their contract, it states they will pay what Medicare doesn't pay up to $100.00 a day. They are not honoring their contract. I don't understand why. They are saying it is a duplicate payment. We did not get reimbursed for the $8,000 we paid out. Why are they lying and cheating us out of the money that we are entitled to. Can anybody tell we what I should do. I can't believe they refuse to pay anything. How do companies like Genworth get away with cheating us consumers. Especially the senior citizens like my dad that believed in this product.

We purchased the Shared Care Benefit LTC insurance from GE Capital Assurance Co. on November 6, 1998 when I was 61 and my wife 58. Later on, GE sold the certificate to Genworth Life Insurance Co. When we purchased the certificate, the annual premium was $2,177 for both of us, with a Daily Maximum Benefit of $150, and a Shared Personal Benefit of $219,000 over 4 years (Benefit Multiplier). In 2008 Genworth increased the premium by 11%, in 2011 by 18%, and will increase it again on 11/6/2013 by 63%. The new increase will be spread over a 3-year period, or 21% annually until 2015. As it can be seen, the total premium increases from 2008 to 2015 would total 93% in just 7 years. Based on the 63% increase, we will have to pay $2,645 on 11/06/13, $3,104 on 11/06/14, and $3,563 on 11/06/15. These premiums are unsustainable for most of elderly people. Genworth stated that additional premium increases may be requested after 1/1/2018.

Since we were unable to pay the higher premiums, we had to reduce the amount of daily benefits in order to keep the premiums at, or about the original level. As a result, our benefits were reduced in 2008 from a Daily Max of $225 and a Shared Maximum Benefit of $328,500 (for 4 years), to $166 and $242,360 today, a reduction of 26.2 %. This benefit reduction was implemented in spite of paying 15 years of premium payments, and the annual addition of the 5% inflation protection included in the certificate.

Genworth stated that the increase of 63% is primarily based upon the fact that the expected claims over the life of this certificate are significantly higher today than what we anticipated when the certificate form was priced, and that the premium increase is in accordance with the laws and regulations of the state in which the master policy for your certificate was issued. If Genworth made a mistake when they determined the original premiums, then they should pay for their mistake - not us. However, since the certificate pays a fixed dollar amount for a claim - regardless of increased charges by care facilities, there is no justification for any premium increase. Furthermore, we feel that Genworth wants to squeeze out the elderly certificate holders by outrageously increasing their premiums.

Today, I am 77 and my wife is 74. Genworth decided to increase the premiums when we are retired and can do nothing except either reduce the benefits up to unrealistically low amounts, cancel the insurance and lose all money we have paid during the last 15 years, or select the non-forfeiture option which in our case is about $32,600, a useless amount for long term care. Thousands of other elderly certificate holders are in the same situation, and today we deeply regret we have purchased this insurance.

Genworth is simply robbing with impunity thousands of elderly. which is unethical and immoral. We can't understand how insurance regulators approved to do this to elderly class group. Why the Division of Insurance has not taken actions to prevent it? Where is the government oversight? Shame on Genworth to prey on elderly customers! Regulators should request Genworth to cancel their decision of continuously increasing the premiums for people of our age who purchased their certificates many years ago believing that they would have help when needed.

My husband and I purchased long term care through GE. GE sold to Genworth. He died in 2000 after using $200 of his long term care at that time with GE. Our premiums were supposed to remain the same. It has been 14 years I have been paying promptly. Three years ago, I received a notice of an 11% increase with the option of cancelling or reducing my policy benefits. I paid it. Then this week, I received a notice of 18% increase. Again, I could cancel the policy if I wish. I am 73 and there is no way to negotiate like you can with an auto policy. I will be contacting the Better Business Bureau, and I will advise every group I am in not to buy any insurance from Genworth. I will also contact my Congressman. I will call them again this week.

I have had this life insurance policy for over 10 years paying 48.00 every three months. I would have been paid up after five years of my $250,000 life insurance policy. I miss one payment. Try to make it following the advice of a customer service representative. She told me not to make it. I have to be reinstated. Little did I know that when I got the letter back, I was rejected for reinstatement due to build. My health is perfect because I am to them to be overweight. They wanted me to take out a new policy paying 100.00 a month for a 100.000 policy. They are a rip off, and I don't recommend them to anyone. They discriminated me for false reasons to get a new policy with a higher quote.

My financial counselor suggested I might want to look into long term care insurance so I applied for a policy with Genworth. Not impressed with them. Full disclosure - they reject my request. Not a problem. They are taking the risk after all and they need to make what they consider to be smart underwriting decisions. My issue with them is it took them nearly 2 months between the time they made their decision to the time they notified me! Wasted time, I could have been using pursuing other options. And they only responded after several requests for an explanation. They need to go back to customer service school.