Genworth Financial Inc. has announced additions to its budget-priced long term care insurance product and expanded distribution.

Genworth, Richmond, Va., introduced 2 optional riders for customers of its Cornerstone Advantage product who opt for home care or assisted living in the event that they need long term care.

A new assisted-living facility care rider adds coverage for room and board expenses when receiving care in an assisted-living facility.

Genworth also is offering a facility and home care waiver-of-premium rider, which enhances an existing rider to waive premiums. The addition would allow buyers to ease the financial burden of care by waiving premiums while receiving benefits in an assisted-living facility or at home.

Cornerstone Advantage already includes a built-in premium waiver for a policyholder who is on claim when confined to a nursing home.

Genworth introduced Cornerstone Advantage in April 2007 as a less-expensive alternative to traditional LTC insurance. It uses deductibles and coinsurance features to hold down premium costs.

Genworth says it now is selling the product in Arkansas, Georgia, Illinois, Missouri and Washington state, increasing the number of states in which the product is offered to 35.