July 28, 2010

Purchasing Affordable Long Term Care Insurance Simplified

Long term care costs in California continue to rise, putting significant financial pressure on those in or near retirement. As a leader in the long term care insurance industry, Genworth Life Insurance Company (Genworth Life) offers a suite of insurance products to help people proactively plan for their future. Now, AARP® members that reside in California can take advantage of new coverage designed to simplify the process of purchasing affordable long term care insurance.

Genworth Life, a Genworth Financial company, recently introduced My Future, My Plan(SM), a suite of long term care insurance plans created exclusively for AARP members. My Future, My Plan is the result of Genworth Life combining its unique expertise in long term care insurance with what it has learned about AARP’s membership needs. With My Future, My Plan, AARP members get access to industry-leading features while maintaining the ability to customize a plan that falls within their price range, meeting their lifestyle needs. In three simple steps, AARP members can choose one of three preselected long term care insurance plans, tailored to them and designed specifically to address their potential needs. All plans include the option of home care, assisted living/residential care and nursing home services along with flexible features designed exclusively for AARP members. Also included is no-cost access to Privileged Care® Coordination which assists policyholders at the time of claim in planning for their long term care.

“Two-thirds of people over age 65 will need long term care in their lifetimes,” said Buck Stinson, President, U.S. Life Insurance Products at Genworth. “The current economic downturn has depleted the nest eggs of many California residents, making it more important than ever to plan ahead for future long term care costs.”

For more information, visit genworth.com.

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