Metlife vs. Genworth Life Long Term care insurance (transfer, increase, determine)

[movin2Reston]

I used to work for AOL years ago and at the time purchased long term care insurance which was underwritten by MetLife. As many know, for the past year, MetLife has stop writing new policies and has attempted to trade of current policies to other providers.

I have been given the option to transfer the coverage from MetLife to Genworth Life without going through underwriting. Given all that has been going on with MetLife lately, is this a no brainer and the best thing is to move the coverage to Genworth Life or how do these two compare?

[golfgal]

I would seek outside coverage with a company that has better ratings then both Metlife and Genworth. Genworth has been in and out of the LTC market so many times I don't know that they are any better then Metlife.

[movin2Reston]

Thanks for the suggestion, but for now I either need to stick with MetLife or transfer over to Genworth.

Suggestions?

Originally Posted by golfgal

I would seek outside coverage with a company that has better ratings then both Metlife and Genworth. Genworth has been in and out of the LTC market so many times I don't know that they are any better then Metlife.

[Caltovegas]

Talk with an independent agent who specializes in LTC. Let them go over your current coverage and see if it may be in your best interest to replace the policy..

[Maimsie]

Oh boy. I'm faced with the same dilemma - also an ex-AOL'er. It appears that the Genworth premium for me is twice the price. I'm not sure I see substantial benefit. I'm eager to hear what others have to say on this topic.

[movin2Reston]

Still waiting for my Genworth packet to arrive. However, if yours went up that much, then wouldn't see the point to move to GenWorth as it seems MetLife has indicated the "possible" increase of "up to 45%", but won't be determined until approved by the state.

Originally Posted by Maimsie

Oh boy. I'm faced with the same dilemma - also an ex-AOL'er. It appears that the Genworth premium for me is twice the price. I'm not sure I see substantial benefit. I'm eager to hear what others have to say on this topic.