Genworth Offers Exchanges into Partnership Program for Ohio Policy Holders
07-26-2010
Ohio has adopted the long term care Partnership Program, a private-public alliance designed to help eligible long term care insurance policyholders further protect their assets.
As required by Ohio, Genworth Life Insurance Company will offer exchanges into the Partnership Program for all eligible policyholders. Offer notices will begin to be mailed on July 27, 2010, to policyholders.
Eligible policyholders will receive a letter explaining the offer, along with an endorsement and Ohio Partnership disclosure, which explain the Partnership program and eligibility requirements.
Policyholders who choose to accept the offer can do so by merely keeping the documents they receive with their other existing policy information. They are not required to sign or return anything. Genworth with automatically exchange their policies to Partnership status retroactively to the exchange date of 12/13/2008. There will be no change in their premiums or insurance benefits as a result of this change. The endorsement will be proof of their Partnership coverage.
Those who choose to opt out of this exchange offer may do so by signing the bottom of the endorsement indicating they are declining the offer. They will have 90 days to opt out and mail this declination of Partnership back to Genworth.
In addition, Genworth will be mailing additional Partnership endorsements to policyholders who participated in the replacement offer of December 13, 2
Contact
Business Underwriters Associates
Phone: 330.576.1100
Toll Free: 1.800.792.6795