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Genworth Financial Expands Long Term Care Insurance Multi-Life Offering


Flexible, affordable multi-life insurance program now available for small businesses

RICHMOND, Va., Feb. 24 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: GNW) today introduced Long Term Care Business Solutions, a next-generation worksite-based long term care insurance platform. Long Term Care Business Solutions offers employers a practical way to provide affordable, comprehensive long term care coverage to employees and their families. The flexible multi-life program is available to as few as three employees or as many as five hundred.

"Long Term Care Business Solutions is the first of its kind, providing the flexibility found in an individual policy within the structure of a group product, making it easier for the producer, employer, and employee," said Buck Stinson , president, Genworth's Long Term Care Insurance business. "An increasing demand for LTCI benefits is driving the multi-life long term care insurance market to expand rapidly, creating an attractive growth opportunity for Genworth and its producers. We've worked collaboratively with our business partners for the past 18 months and are excited to deliver a best-in-class offering that meets their needs and those of their clients."

Long Term Care Business Solutions is available to employees through their workplaces. It is designed to provide essential long term care coverage in a number of environments, including home and facility-based care, and features a 0-day elimination period for home care. The program launches with two unique platforms to meet the individual employee's needs:

-- Executive Series -- a 100 percent employer-paid program, and

-- Employee Advantage -- a 100 percent employee-paid program

If purchased in a state where the plan meets requisite State Partnership Program minimums, individuals may be able to take advantage of those benefits.

Genworth is supporting the Long Term Care Business Solutions program with a full suite of tools for producers including pre-sales support, a dedicated case management team, marketing collateral, a simple three-question application for eligible employer-funded participants, the ability to complete insurance applications on-line, a new quoting tool to illustrate employer plans, and a highly competitive commission structure.

To learn more about long term care and long term care insurance products offered by Genworth Financial, visit

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 6,000 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth operates through three segments: Retirement and Protection, U.S. Mortgage Insurance and International. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit Long term care insurance is underwritten by Genworth Life Insurance Company, and in New York, Genworth Life Insurance Company of New York, Administrative Offices: Richmond, Virginia. Coverage may not be available in all states. From time to time Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of

SOURCE Genworth Financial, Inc.
CONTACT: Yokima Cureton of Genworth Financial, Inc., +1-804-662-2598,
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