aja8888
Moderator Emeritus
About ten years ago, DW and I bought the above insurance policy on her for health reasons at the time. This Genworth policy was a 10 year term "Universal" policy that provided a death benefit while allowing contributions above the premiums, which we did not make (we just paid the premiums). In essence, we used this as straight term insurance. Genworth was the only insurer at the time to provide a death benefit for a 67 year old female with early COPD at a reasonable cost.
We are now at the end of year ten, and premiums will continue at a much higher rate if we desire. We are considering this but are concerned about the future existence of Genworth as we "hear" they have no longer offer life insurance polices and are bleeding money on their LTC coverage.
In addition, the premium for continued coverage went up a factor of 6.4 times.
Currently, DW's health is not good as her COPD has gotten a lot worse.
Stumped in two regards, Genworth viability and whether or not to continue down the premium road.
Any opinions on this?
We are now at the end of year ten, and premiums will continue at a much higher rate if we desire. We are considering this but are concerned about the future existence of Genworth as we "hear" they have no longer offer life insurance polices and are bleeding money on their LTC coverage.
In addition, the premium for continued coverage went up a factor of 6.4 times.
Currently, DW's health is not good as her COPD has gotten a lot worse.
Stumped in two regards, Genworth viability and whether or not to continue down the premium road.
Any opinions on this?
