In an effort to get more people interested in purchasing long term care insurance, AARP has formed a relationship with Genworth Financial. The partnership is aimed at developing long term care solutions that meet the needs and demands of AARP’s members.
AARP also renewed its relationship with MetLife.
The new products are scheduled for an October 2007 release and will include AARP-endorsed long term care coverage with flexible features and benefits. Some of the products will carry five-year rate guarantees, 60-day opt-out clauses and inflation protection.
“We have negotiated special terms for AARP members and have simplified a traditionally complicated but important purchase for AARP members who choose to buy long term care insurance,” said Dawn Sweeney, president and CEO of AARP services.
“We are excited about the combined strength of AARP’s membership affinity and Genworth’s experience and reputation in long term care insurance,” said Buck Stinson, president of Genworth’s Long Term Care Insurance business. “This relationship offers a unique opportunity
to dramatically expand long term care coverage in America through a broad portfolio of products and services designed for AARP members.”
For more information, visit www.aarp.org.