5 Things Genworth Executives Told Wall Street

February 8, 2018

Allison Bell

Executives at Genworth Financial Inc. say that the company still needs to come up with $600 million in cash to handle debt obligations coming due in May, but that the company did well in 2017.

Thomas McInerney, who has been the Richmond, Virginia-based insurer’s president since 2013, told securities analysts Wednesday that he believes the company has been moving in the right direction..

“We returned to profitability,” McInerney said. “We generated solid operating results, particularly at our global mortgage insurance platform, and we made significant progress on our multi-year long-term care insurance premium rate action plan.”

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Long-Term Care Insurance And The Importance Of Developing A Plan

February 5, 2018
Long-term care insurance provides care for those who need long-term assistance in a nursing home, care at home or adult daycare. What it also provides, though, is peace of mind that yourself or loved ones will be able to afford the help that might have been provided by family or friends in years past. Although long-term care insurance has been around since the late 1970’s, the popularity emerged during the 80’s and 90’s.  With more and more Americans needing this service, it is important to be informed of your options. While Medicare covers only short stays in a nursing facility, Medicaid can fill in the gap but only after you have depleted your financial accounts. Therefore, if you envision an assisted living center as your future home, you will need the necessary resources to fund this option. Are you prepared?
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What to Say Now About LTCI Rate Increases

February 2, 2018

Margie Barrie

Margie Barrie, a veteran long-term care insurance (LTCI) agent, marketer and educator, has been writing articles about long-term care planning and related issues for years.

Here, she handles a question about what to say to clients about past, present and future LTCI rate hikes.

Q. The topic of rate increases must be part of the conversation when I work with clients. When they request more details, how should I explain the reasons for past rate increases and the probability of future increases?

A. Our clients need to be told to expect rate increases and to understand the reasons why. As long as rate increases occur, we will probably see negative articles in the press. So, it will be helpful if our clients understand the challenges that actuaries and carriers encounter when setting rates.

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