Genworth continuously monitors, examines and manages our business to help ensure we are offering products that are priced to balance consumer needs with our desire to achieve long-term profitability. As a result, on April 24, 2017, we will suspend sales of individual long term care insurance in Hawaii. Privileged Choice® Flex 2 (Flex 2), our current offering in Hawaii, is an older generation policy and no longer meets our pricing assumptions.
Transition Rules
Please carefully review the transition dates and rules below. No exceptions will be available.
Quote It!
04/23/17 Last day to quote Flex 2 in Quote It!
Applications
04/24/17 Last valid Application Signed Date for Flex 2.
04/24/17 Last valid Home Office Receipt Date for Flex 2 applications, must be received by 8:00 PM ET. 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 ET cutoff. Reminder: Prior to soliciting new business, verify your producer license is in good standing, you have completed all required CE training, and you are in compliance with all applicable licensure requirements. Applications will be closed if all such requirements have not been met as of the date of the application. For up-to-date information on Genworth applications, education and training statuses go to https://pro.genworth.com.
Frequently Asked Questions:
Q: Why did Genworth decide to suspend the sale of Privileged Choice® Flex 2 now?
A: Our assumptions have changed since this product was originally filed. At this time, we are no longer willing to offer Flex 2 with those pricing assumptions.
Q: Will Genworth remain in the long term care insurance market?
A: Genworth remains focused on providing smart, sustainable strategies and products.
Q: Are existing policyholders affected?
A: No, these changes do not impact policies already in-force.
Q: Will this change impact Genworth’s sales teams?
A: There is no change to our Genworth wholesaling support.