Genworth Financial Inc. has been chosen by the Teacher Retirement System of Texas to provide long term care insurance to its members.
Under this agreement, Genworth Life Insurance Company will become the underwriter of the group long term care insurance program for public school employees sponsored by TRS.
TRS of Texas is one of the largest retirement systems in the U.S. With over 1.2 million members, according to Genworth, Richmond, Va. It includes all public school systems in the state. In fact, TRS asserts, 1 out of every 20 Texans is a TRS member or retiree.
The TRS group LTC insurance program will be available during the Fall enrollment period beginning September 15. Active TRS members will receive a one-time opportunity to obtain coverage with reduced underwriting during the initial enrollment period, Genworth said.