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Genworth enhances LTCI policy

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Long Term Care Insurance is at the top of many lists as one way to alleviate the strain on Medicare and Medicaid. Genworth Financial Inc. is one company working to get LTCI into the spotlight. Its popular Cornerstone Advantage product has been improved and made more affordable.

Two new riders have broadened the policy’s appeal. The first is an enhanced assisted living facility care rider, which adds coverage for room and board expenses for care in an assisted living facility, the same as in a nursing home. The second, a facility and home care waiver of premium rider, provides more opportunities to waive premiums while the policyholder is receiving benefits in an assisted living facility or at home.

Couples can receive 50 percent discounts for submitting two valid applications, even if one of the policies is not issued. The product also contains a built-in return of premium feature.

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