Genworth to change how family history of Coronary Artery Disease and Demenia are considered. Click here for the full Bulletin, including Frequently Asked Questions.
Genworth Life Insurance Company (Genworth) uses our almost 40 years of experience to monitor and evaluate trends in long term care insurance and underwriting. As trends evolve,we make adjustments to our processes to help manage risk for the future. On September 2, 2014, Genworth will update underwriting classifications based on family history for certain conditions. These changes will be effective for Privileged Choice® Flex 2 (Flex2) and Privileged Choice® Flex 3 (Flex 3) applicants.
Coronary Artery Disease
Applicants with a parent diagnosed with Coronary Artery Disease prior to age 60 will be eligible for Preferred as the best possible underwriting category.
Dementia
Applicants with one parent diagnosed with Dementia prior to age 70 will be eligible for Preferred as the best possible underwriting category.
Applicants with both parents diagnosed with Dementia prior to age 70 will be eligible for Select as the best possible underwriting category.
Transition Rules
The new underwriting guidelines will be applied to individual long term care insurance product applications received by Genworth beginning September 2, 2014.