Genworth LTC: Underwriting changes and Related New Forms needed as of 4/15/13

Reminder: On April 15, 2013, expanded underwriting requirements will be applied to Genworth individual Long Term Care insurance products, including Privileged Choice®, Privileged Choice Flex®, Privileged Choice® Flex 2, Classic Select®, and New York Partnership Plus.

Regardless of product or state, the new underwriting guidelines will be applied to all long term care applications received by Genworth after 3:00 pm EDT on 4/12/13. This deadline is entirely separate from the product deadline.

Please click here to access Genworth's bulletin for more information about upcoming underwriting and product changes.

Here is an example on how new business will be affected : Applicant applies for PC Flex in a state that has approved PC Flex 2. To still be eligible for the PC Flex product, the signed application must have a Home Office Receipt Date of 4/22/13 by 3:00 pm.

· If the signed application is received by 4/12 at 3:00 pm EDT, the client would be eligible for PC Flex and the existing underwriting guidelines would be used.

· If the signed application is received after 4/12 at 3:00 pm EDT, but before 4/22 at 3:00 pm, the client would be eligible for PC Flex, and the NEW underwriting guidelines would be used

· If the signed application for PC Flex is received after 4/22 at 3:00 pm, they will no longer be able to secure that product and would need to fill out new paperwork for PC Flex 2 and meet the new underwriting requirement.

The new underwriting guidelines impact all states and all products and, therefore, changes have also been made to the company required forms that must be submitted with an application, including:

· A new HIV form

· Updated HIPAA and Suitability forms.