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Genworth Financial, Inc. Message Board

  • dog01buck dog01buck May 6, 2013 9:28 PM Flag

    Do NOT be overly concerned about Genworth's Long Term Care Products

    as these too will make money. I read posts from concerned posters: "people live longer so consequently these policies can not be profitable".

    This is, of course, not true. People are living longer. The policies can still be profitable - VERY.

    Both my father and mother purchased GNW long term care products. My father died 2 years ago at 92 - he never drew a nickel on his policy - he was healthy until his death. His premiums were 100% profit for GNW.

    My mother is 85 and has been drawing for almost 2 years. BUT there is a contractual ceiling on the total amount of dollars which she can EVER draw on her policy AND she STILL pays the premiums (unless/until confinement when the premiums are waived).

    Because of my own background, I invested in GNW because of its MI section NOT the ins. section - and for the same reason I bought regional lenders - RF, HBAN, OZRK and more. It is this sector (Financial) which I know.

    HELL, I lost enough when the Real estate//Banks collapsed, so consequently, it is only fair that I "turn a nickel"on the rise in share value - and I have....at least on paper- (technically, I have NOT because I continue to hold these securities).

    In part, it also is the volatility of GNW which attracted me, consequently I "traded" it - now, I just buy and hold.

    GNW simply adjusts their model on their LTC to account for life expectancies and mortality tables - it can, and will STILL turn a profit - hence their recent marketing of a new product......nationwide. We will be fine here.

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