2/4/2016- Genworth Life has suspended sales of its life insurance and annuity products. The good news is that some of Genworth’s awesome underwriters now work for other competitive companies like Banner Life and American General Life.
Genworth Life, formerly First Colony Life, has had competitive term life, permanent life insurance and long term care insurance coverage for a long time.
Their Colony Term insurance products are some of the very few term plans that allow conversion all the way up to age 75, whereas almost all of their competition only offers conversion to age 70.
Since Genworth will currently offer their term life products at amount as low as $50,000 (and most of their competition don’t offer less than $100k), they are almost always competitive at this lower amount.
Click Here to email us to get an accurate Genworth Life insurance quote or with any questions or simply use the quoting tool to the right to review all rates.
We will also always email you with quotes for any other insurance companies that may be better for you than Genworth Life, from companies like Ohio National, Transamerica, Banner, Savings Bank Life of MA, Protective, North American, American General…
Genworth Life can be very competitive for the following
- Build– Genworth’s height/weight chart can be about 20 pounds more liberal than almost all of their competition for Preferred Plus and Preferred.
- Treated blood pressure– As long as your blood pressure is well controlled with medication, you can still qualify for their Preferred Plus rate.
- Arthritis– Osteoarthritis and Rheumatoid if no debilitation, stable for several years and preferably not on immunosuppressive drug
- Depression and Anxiety– Genworth will offer Preferred Plus and Preferred rates on some cases.
- Sleep Apnea– mild cases that are well controlled with CPAP or BiPAP can qualify for Preferred Plus or Preferred rates.
- Asthma– mild cases can qualify for Preferred Plus or Preferred rates.
- Scuba Diving– diving to depths of 100’ can still qualify for Preferred Plus rates.
We always include Genworth in every case that we shop for all of the above issues and for many other health or other issues as they have surprised us with great offers on many cases in the past.
Genworth Life will never make the best offer on every case, whether for depression/anxiety, sleep apnea, asthma, etc, but they are always going to be a “player”.
Genworth Equity Indexed Universal Life
While they’ve always offered competitive term life insurance rates, Genworth wants to be a bigger player in the indexed universal life insurance market and they are now focusing a lot of their attention on this market.
With the Genworth Foundation Builder Indexed Universal Life product that has a death benefit guarantee for 30 years or to age 80, whichever comes first, and the Genworth Asset Builder Indexed UL with a 10 year death benefit guarantee and with the potential to build more cash value then the Foundation Builder, Genworth should at least be a consideration if you’re interested in equity indexed universal life insurance.
For an additional charge, you can also add a long term care insurance rider to Genworth’s Indexed UL products mentioned above for less than it would cost you to buy a stand alone long term care policy.
Click Here to email us if you’d like an accurate Genworth Life quote. We will always shop for you to Genworth life and all of their competition for term or permanent life insurance with companies like Minnesota Life, Principal Life, John Hancock, Columbus Life, Pacific Life, Penn Mutual, Mass Mutual and any other carrier that may be competitive for you.