Answers to Your Questions
Q. Is my Genworth policy/contract secure?
Yes. Policies and contracts are supported by the assets held within our underwriting insurance company that issued the policy or contract. These companies and their assets are separate from our holding company, Genworth Financial. (Remember, the funds in the separate account for variable products are subject to market fluctuations and may lose value.)
Your policy is further protected by extensive state insurance regulations that provide an additional safety net for policyholders, if necessary.
Read more about the security of your policy or contract:
Life Insurance | Long Term Care Insurance | Fixed Annuities | Variable Annuities
Q. If I have a claim, will it be paid?
Yes, if you have an eligible claim. Our insurance underwriting companies are required by law to set aside, or reserve, a certain amount of money to ensure that we have sufficient assets to pay our claims. The assets of our insurance underwriting companies are separate from our holding company, Genworth Financial.
Q. Should I continue to pay my premium?
In order for your coverage with us to continue, you will need to pay the insurance premium.
Q. Some rating agencies have changed their ratings on Genworth. What does this mean to me?
Overall, shifts in ratings will not impact our focus on meeting our policyholder obligations. For example, Standard & Poor’s (S&P) rating agency has assigned “Very Strong” financial strength ratings to Genworth’s insurance companies. For more information on Genworth’s financial strength ratings from S&P and other rating agencies, click here.
Q. Genworth’s stock price has declined. Is the company solvent?
Yes. Our holding company and our underwriting insurance companies are separate legal entities. Each of the insurance companies has its own assets and liabilities. Specifically, if Genworth’s stock price declines, it does not directly affect our ability to pay claims.
For more information on Genworth’s financial highlights, click here.
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