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July 12, 2009 at 08:00 PM
A major long term care insurer has introduced a group of products available only to members of the American Association of Retired Persons.
Genworth Financial Inc., Richmond, Va., says members of AARP, Washington, can buy a base version of the new My Future, My Plan coverage, then customize the coverage to suit their individual needs.
“We worked with AARP to put together a product suite that made sense for their market demographic,” says Yokima Cureton, a Genworth spokeswoman. “It’s 3 basic plans. It starts with deciding whether or not you want an elimination period and for how long. From there it narrows your options and helps you determine the best plans.”
AARP members can buy the coverage over the telephone, in person or through the Web.
The My Future, My Plan coverage will be fully underwritten.
“We have not changed our underwriting policies for this product,” says Jeff Condit, a senior vice president at Genworth. “The benefit is the members get access to preferred health discounts and the lowest prices.”
