Genworth Financial Inc. is finding strong interest in its new small group long term care insurance product, a company executive says.
The Long Term Care Business Solutions product, available in 25 states, can be used both as an executive carveout and as an employee benefit, according to Beth Ludden, a senior vice president in the long term care insurance unit at Genworth, Richmond, Va.
Among business with 25 employees or less, a surprising number are considering offering LTC benefits, and many are even considering helping to pay the premiums, Ludden says.
“Many small business owners are at the point in their life where they’re thinking about the long term care risk,” Ludden says.
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