Genworth, a pioneer in the long-term care insurance (LTCi) industry, has sold the largest number of LTCi policies (1.2 million) and paid out more than its competitors.
Through December of 2015, Genworth paid over $13 Billion in claimed LTCi benefits. Genworth pays out an average of $5.6 million dollars in LTC benefits every business day!
Those of us who specialize in LTCi have huge admiration and respect for Genworth’s perseverance. They are in LTCi for the “long game” and have huge commitment to it. They have the experience to sell it profitably, which means they understand LTCi’s slow, but eventual profitability.
Recently, Genworth was purchased by China Oceanwide Holdings. This will make Genworth’s shareholders happy, which will in turn, take much pressure off Genworth’s leadership.
Genworth’s website has more information about the buyout. It is easy to navigate and also has abundant information on long-term care costs, as well as how to understand and choose the best LTCi coverage.