- Sells long-term care insurance and mortgage insurance.
- No longer sells life insurance or annuities.
Genworth Financial Inc. offers long-term care insurance and mortgage insurance. Genworth announced that it was suspending sales of life insurance and fixed annuities as part of a restructuring effort in 2016.
Genworth long-term care insurance
The company remains a major provider of long-term care insurance, which helps pay for assistance with routine daily activities at home or in nursing homes, adult day care centers and assisted living facilities.
Genworth produces an annual study of long-term care, which examines the median cost of services in various settings. The study provides national and state-by-state data, which can help with financial planning for long-term care.
More about Genworth insurance
Besides long-term care insurance, Genworth provides private mortgage insurance. Sold through lenders, private mortgage insurance enables borrowers to qualify for home mortgages when they have down payments of less than 20%. The insurance protects the lender in case the borrower defaults on the loan. Borrowers pay for the insurance as part of their monthly mortgage payments.