Genworth Financial offers four products, according to the company website: long-term care insurance, annuities, life insurance and mortgage insurance. The company aims to help people have financial security during retirement.
Long-term care insurance ensures individuals receive quality care in case of a long-term sickness or chronic condition in the future, states Genworth. It covers extended care in an assisted-living facility, nursing home or at home. It is flexible since the client chooses what services he receives, who provides them and where to obtain them.
Life insurance covers loved ones, especially after the breadwinner has passed away, and provides supplementary source of income for sunset days, providing financial flexibility, notes Genworth Financial. It enables a spouse to pay off a mortgage, education bills for children and business obligations to survive in the absence of the owner. Genworth offers four types of life insurance: term life, whole life, guarantee universal life and index universal life.
Annuities provide a policyholder a guaranteed steady flow of income from an agreed time and for an agreed duration, which can extend for life depending on the package, explains Genworth Financial. The company offers three types of annuities: fixed immediate annuities, traditional fixed deferred annuities and fixed index annuities. Mortgage insurance offers two main benefits: faster home ownership even with low payments and guaranteed payment continuity even when a policy holder experiences a financial setback.