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Our long-term care insurance segment reported an adjusted operating loss of $29 million, primarily driven by a liability remeasurement loss from actual to expected experience, partially offset by ...
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In March 2016, the company settled shareholder lawsuits for $219 million. The lawsuit alleged that Genworth and its management made false statements between October 30, 2013 and November 5, 2014 as the company had assured investors that the reserves it had set aside to cover long-term care claims were adequate.
How to prepare for long-term care. Given the significant costs of assisted living, paying for these services is challenging for many families. At times fees associated with long-term care can be ...
The CLASS Act would have created a voluntary and public long-term care insurance option for employees, [1] [2] [3] but in October 2011 the Obama administration announced it was unworkable and would be dropped. [4] The CLASS Act was repealed January 1, 2013. [5]
Based on a report from the Urban Institute and the U.S. government, 70% of adults who survive to age 65 end up requiring long-term support while 48% receive some paid care over their lifetime. Don ...
2003: GE spins off GE Financial Assurance and most of its insurance-related businesses into Genworth Financial, Inc. 2005: FCL offers term life insurance with a return of premium that includes enhanced cash value accumulation options and a loan feature, the first life insurance company to do so.
For years, Judith Felker dutifully paid the premiums for long-term care insurance to ease the burden on loved ones if she was eventually incapacitated by dementia, like her mother and grandmother ...