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AARP Rolls Out Genworth Budget LTC Product

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Genworth Financial Inc. is marketing a budget-priced long term care insurance policy to the 39 million members of AARP.

The Genworth product, Cornerstone Advantage, uses deductibles and coinsurance features to hold down premiums, according to Genworth, Richmond, Va.

Genworth will start off offering the product to AARP members in 27 states.

Genworth, Arlington, Va., took over the long term care business of AARP, Washington, in October 2007.

Previously, a unit of MetLife Inc., New York, had been selling LTC insurance through AARP.