Genworth Financial, Richmond, Va., has announced a strategic marketing relationship with its long-term care (LTC) insurance business and the National LTC Network to sell Genworth’s long-term care products and services.
As part of this relationship, the National LTC Network will offer Genworth’s long-term care insurance products to both individuals and businesses. This will help expand Genworth’s distribution of its long-term care insurance products. As the industry leader in individual long-term care insurance sales*, Genworth’s brand recognition will help the National LTC Network in its efforts to expand both its carrier network and product portfolio. As a member of the National LTC Network, Genworth will support the Network’s efforts to increase the quality of long-term care education for consumers and agents.
The National LTC Network is a coalition of 25 long-term care insurance distributors. According to National LTC Network data, combined long-term care insurance sales of all Network members reached nearly $60 million last year.
“The Network was founded 14 years ago and is the country’s oldest and largest organization of its kind specifically focusing on long-term care insurance,” said Louis Brownstone, chairman of the board of the National LTC Network. “Genworth is a proven leader in our industry and is known for its commitment to long-term care insurance and its policy owners. We are excited about this marketing alliance with Genworth.”
“These tight economic times bring an incredible opportunity for people to strengthen their economic security in retirement with long-term care insurance,” stated Bob Eckhart, Genworth’s vice president of long-term care sales. “Adding the National LTC Network to our list of distributors will help bring this message and Genworth’s solution to thousands of additional households and business owners.”
* – According to LIMRA 1Q 2008 Sales