Have you received another rate increase on your Genworth policy?
It seems like I have been hearing the same thing recently, “is Genworth raising their rates again?” or “another rate increase by Genworth?”
Yes, that is what is happening and for a lot of people it is a very painful increase. As always, Genworth is giving you the opportunity to reduce the daily benefit amount, lower the benefit period and the option to reduce or remove the inflation protection.
Genworth has a lot going on internally, just this week they have announced that they have called off the merger “takeover” by China Oceanwide Holdings that has been in the works for over 4 years. They will continue to work with their existing block of business and other ways to raise capital.
Before you act on any of this please give us a call to discuss and to see if there are other options before making a decision. We will try and help you the best we can.