On July 21, 2014, Genworth (NYSE:GNW) is introducing Privileged Choice® Flex 3 featuring FlexFit℠ packages. FlexFit packages are designed to help address the primary barriers to purchasing long term care insurance – price and complexity. FlexFit gives millions more Americans the flexibility to choose the right fit for their long term care needs, combined with the simplicity of prepackaged benefits. Privileged Choice Flex 3 is issued by Genworth Life Insurance Company.
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Today, Genworth Financial, Inc (NYSE:GNW) announced the launch of its new website www.longtermcareinsurance.org, designed to help fill the information gap for consumers about the reality of long term care and the importance of planning for the future. The website, named the National Advisory Center for Long Term Care Information (NACLTCI), sponsored by Genworth, is focused on providing clear, concise and unbiased information to consumers faced with making decisions related to long term care.
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The cost of long term care continues rising at a rate outpacing inflation creating significant financial planning challenges for the nearly 12 million Americans currently in need of long term care services. According to the Genworth (NYSE: GNW) 2014 Cost of Care Survey released today, the cost of receiving in-home care continues to rise, though at a more moderate rate of growth. This is good news for consumers as almost three quarters of people needing long term care prefer receiving it in their homes, according to Genworth’s extensive claims data (Long term care claims Experience Data for Genworth Life Insurance Company and affiliates – December 1974-June 30, 2013).
To view the Multimedia News Release, go to http://www.multivu.com/mnr/70631511-genworth-2014-cost-of-care-survey-results
Consumers perceive annuities more positively than financial professionals give them credit for, according to The Future of Retirement Income, a new study released by Genworth.
The study, a culmination of in-depth interviews, focus groups and quantitative surveys with financial professionals, annuity owners and non annuity owners, revealed that 68 percent of non annuity owners have a neutral to positive impression of annuities. For annuity owners, it’s even higher: 91 percent neutral to positive. In addition, the majority of annuity owners are satisfied with access to their account, fees and asset growth.
To view Multimedia News Release, go to http://www.multivu.com/mnr/54358-genworth-financial-pros-underestimate-appeal-of-annuities-among-consumers
Consumers have unrealistic expectations about when they will retire, how much money they will need in retirement and where that income will come from, according to The Future of Retirement Income, a survey released today by Genworth.
To view Multimedia New Release, go to http://www.multivu.com/mnr/54350-genworth-survey-consumers-underestimating-retirement-expenses
More than half (53 percent) of family members serving as primary caregivers for loved ones have lost income due to the demands of providing care. The study, Beyond Dollars: A Way Forward, also found that caregivers whose loved ones did not have long term care insurance face additional stresses including covering the cost of daily living, medical and other support-type needs.
To view Multimedia News Release, go to http://www.multivu.com/mnr/54349-genworth-study-planning-reduces-stress-faced-by-caregivers-long-term-care
Americans have a bit of a superiority complex when it comes to grading their financial prowess. Genworth’s latest Psychology of Financial Planning research reveals that more than half (52%) of Americans gave themselves an A or B grade on their saving and investing knowledge, while giving the average American a failing grade of D. What nearly everyone (97%) can agree on, however, is the importance of financial literacy and the fact that they don’t have enough (88%). In fact, 58 percent of respondents blamed lack of financial education as a top reason why pre-retirees don’t have enough money saved for retirement.
To view Multimedia News Release, go to http://www.multivu.com/mnr/54348-genworth-financial-research-series-psychology-of-financial-planning
A new Genworth survey finds that Americans whose parents set good financial examples are more likely to be among the 62 percent of Americans who have a financial plan and feel confident in their financial future.
The first results of the Psychology of Financial Planning Survey, released today by Genworth, are part of a series of research findings that will be issued throughout 2013. The purpose of the survey was to gain insights into the psyche of Americans about what prompts or restricts them from planning for their financial futures.
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Too many Americans have taken themselves out of the market for life insurance as a result of outdated assumptions about pre-existing conditions and insurability. That is one of the conclusions drawn by Genworth life insurance experts from a review of the 2012 Genworth LifeJacketSM Study data.
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According to Genworth’s (NYSE: GNW) 2012 Cost of Care Survey, the cost to receive care in the home remained unchanged from 2011 to 2012 and home care costs have also risen less dramatically over the past five years than for other types of long term care services.
“Overwhelmingly, Americans prefer to receive long term care in the home and the relatively muted increase in home care costs over the past few years can be viewed as a positive for consumers,” said Steve Zabel, senior vice president of Long Term Care at Genworth. “Consumer demand for home care services has led to a proliferation of home care services providers and more choice for consumers. This competition has kept home care costs relatively stable, especially when compared to the cost of care in a nursing home or assisted living facility.”
To view Multimedia News Release, go to http://www.multivu.com/mnr/54344-genworth-financial-2012-cost-of-care-survey-long-term-care
Today, Genworth Financial, Inc. (NYSE: GNW), 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 breaks new ground by becoming the first national service endorsed by AARP to integrate care assessment, care planning and provider matching.
To view Multmedia News Release, go to http://www.multivu.com/mnr/54343-genworth-aarp-members-caregiving-service-help-and-advice
Genworth Financial, Inc. (NYSE:GNW) announced today the launch of two new index annuities designed to meet the growing needs of America’s security-conscious consumers. SecureLiving® Index 7 and SecureLiving® Index 10 Plus will be issued by Genworth Life and Annuity Insurance Company.
To view Multimedia News Release, go to http://www.multivu.com/mnr/52562-genworth-introduces-new-fixed-index-annuity-product-suite-secureliving
