On February 24, 2014, Genworth will be launching Privileged Choice® Flex 2 (Flex 2) in the following additional states: CT, HI, IN, MD, MO, NY, OR, VA. Click here for the official bulletin with complete details and click here for the Frequently Asked Questions about this launch.
Privileged Choice® Flex 2 vs. Privileged Choice® Flex (Flex)
- Add 4% Compound Inflation Protection (does not apply to New York Flex 2 or New York Partnership Plus)
- Reduce Maximum Issue Age from 79 to 75
- Pricing is based on age, health and gender
- Move from Couples Discount to Couples Premiums built into rate tables
- Adjust the definition of Couples to include spouses/partners only
- Change to Claims Offset on all Compound Benefit Increase Options
- Implement four underwriting categories: Preferred Best, Preferred, Select and Standard
- Require Formal Care Providers for reimbursement of Home Health or Personal Care Services; Formal Care Providers can be Independent
- Launch of a newly designed, simplified Illustration and Quote It! user experience
- Add a new Total Asset Protection plan to New York Partnership Plus, bringing the total number of partnership plans to five.
State Availability: The state differences matrix and state map are now available.
Transition Rules: Please carefully review the transition dates and rules below. No exceptions will be available.
Paper Applications:
02/24/14 Last valid Home Office Receipt Date – Flex applications must be received by 8:00PM ET
02/24/14 Last valid Application Signed Date
Faxed applications must be sent to either: 434 948.5566 or 800 456.8329.
Applications may be emailed to EMM-GNWLTCApps@genworth.com.
Note: Applications faxed or emailed to any fax number or email address other than those listed above may not make the 8:00 PM cutoff.