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Chicago Tribune financial columnist Terry Savage has some good basic information on LTC insurance and why to buy.
Click here for the link to go to the article: http://www.huffingtonpost.com/terry-savage/long-term-care-is-not-a-l_b_8050032.html
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The LTC insurance business was never for sale, and I see this as good news for policyholders as Genworth refocuses on its core business strengths. Even though the market knocked Genworth down after the announcement, remember that there is a difference between being a sharholder and a policyholder. Short-term changes like these in the stock price are often at the cost to shareholders, but are a benefit to policyholders. From an article today in the Richmond Times Dispatch: “Genworth Financial Inc. confirmed Wednesday that it reduced about 220 positions in the first six months of this year as the [Virginia-based] insurer looks to cut costs... And Genworth executives told analysts that the company is no longer looking at selling its life and annuity insurance businesses..." |
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