Is Genworth a Good Insurance Company?

Genworth Financial is one of the most recognized names in American insurance — and one of the most misunderstood, because what Genworth is today is fundamentally different from what it was ten years ago. If you are searching “is Genworth a good insurance company,” you are almost certainly in one of two situations: you hold an existing Genworth long-term care insurance policy and are concerned about what the company’s financial trajectory means for your coverage, or you are a new buyer researching Genworth for a future purchase. The answer is different for each. For existing policyholders: Genworth Life Insurance Company (GLIC) is currently meeting its obligations to approximately 2.2 million policyholders. The AM Best C++ (Marginal) rating — with a positive outlook revised upward in September 2025 — reflects a carrier that has been under significant financial strain from its legacy LTC block but is making measurable progress through its multi-year rate action plan. You cannot simply cancel a long-term care policy and expect to find equivalent replacement coverage elsewhere; your contractual rights are valuable and your best resource is understanding exactly what your policy says. For new buyers: Genworth stopped selling individual life insurance in March 2016 and is not actively marketing new annuities through independent agents. New long-term care insurance sales now happen through CareScout Insurance Company — a Genworth subsidiary that launched its inaugural Care Assurance product in October 2025. If you want a new life insurance or annuity policy in 2026, Genworth is not the answer; our rate comparison tools above cover the full market of carriers that are actively writing new business. At Diversified Insurance Brokers, Jason Stolz, CLTC, CRPC, DIA, CAA, works with existing Genworth policyholders to review current policy terms, evaluate rate increase notices, and when appropriate, explore whether any provisions support a transition — as well as with new buyers who need alternatives for the products Genworth no longer offers.

Understanding Genworth’s Three Entities and Their Ratings

For Existing Genworth LTC Policyholders — What You Need to Know

The most important thing an existing Genworth long-term care insurance policyholder can do right now is read their own policy — not search for news about Genworth’s financial ratings. The GLIC C++ rating with a positive outlook means the company is under financial strain from decades of underpriced LTC insurance, is executing a multi-year rate action plan, and is currently meeting policyholder obligations. It does not mean your policy is going away. What has changed — and what directly affects existing policyholders — is the ongoing premium rate increase program. Since 2012, Genworth has executed what it calls in-force rate actions across the legacy LTC block, achieving an estimated $34.5 billion in net present value of premium increases and benefit reductions through regulatory approvals. When you receive a rate increase notice, you generally have options: pay the new premium at the same benefits, accept reduced benefits at the original premium, or elect some combination. These decisions have long-term consequences for the coverage you will actually receive when you file a claim, and they deserve careful review before you respond. The specific benefit trigger language in your policy — whether you qualify for benefits based on cognitive impairment, inability to perform Activities of Daily Living, or medical necessity — is the provision that matters most when care is needed. Your elimination period, your daily benefit amount, and whether you purchased an inflation protection rider all determine the actual value remaining in your policy. For existing policyholders who want help reviewing their Genworth policy in context — understanding what benefits remain, what rate increase options mean in practice, and whether any policy provisions support a transition strategy — our resource on annuity rescue planning covers the process for evaluating existing policies that may no longer be performing as expected, and our broader resource on long-term care insurance for seniors covers the current market alternatives available for buyers whose situation has changed since they originally purchased Genworth coverage.

For New Buyers — What Genworth Can and Cannot Do

If you are a new buyer in 2026 looking for long-term care insurance, a life insurance policy, or an annuity, the Genworth you are researching is not the carrier that can help you — but a Genworth subsidiary is. Genworth stopped selling new individual life insurance in March 2016 and has not actively marketed new annuities through independent channels for several years. For new long-term care insurance, Genworth’s new vehicle is CareScout Care Assurance — a standalone LTC product launched in October 2025 through CareScout Insurance Company, which is a Genworth subsidiary with its own separate capitalization and rating profile. As of early 2026, Care Assurance was available in 40 states with additional state approvals pending. Because CareScout Insurance is a new entity with a short operating history, buyers considering it for new LTC coverage should evaluate it alongside established A-rated LTC carriers rather than treating the Genworth brand name as equivalent to the CareScout carrier’s track record. For buyers who want to understand the full LTC insurance market including both traditional and hybrid options, our resource on hybrid long-term care insurance covers the full landscape — including carriers like Nationwide, Mutual of Omaha, and others with established ratings and product histories who are actively writing new business. For new annuity buyers who arrived at this page because they remember the Genworth name from the annuity market: our resource on best MYGA annuity rates covers the full current market of A-rated carriers actively competing for new business in 2026. For new life insurance buyers, our life insurance quoter above provides real-time rates from carriers actively writing new policies.

The CareScout Network — What It Provides Existing Policyholders

One genuinely useful development for existing Genworth LTC policyholders is the CareScout Quality Network — a care provider matching service that connects policyholders with vetted home care providers at preferred pricing. As of year-end 2025, CareScout delivered over 3,200 matches with home care providers, covering more than 95% of the US population aged 65 and above. Genworth also acquired Seniorly — a senior living community platform — in October 2025 to expand the network into assisted living and memory care settings. This network does not change the benefit amounts or terms of existing Genworth policies, but it provides a practical resource for policyholders who need help navigating care arrangements. When you file a claim under your Genworth policy, you need to satisfy the benefit triggers spelled out in your policy contract regardless of which care provider you use. The CareScout network can help you find qualified providers; your policy contract determines whether the care you receive actually activates your benefits. For existing policyholders who are also Medicare-eligible and trying to coordinate LTC planning with Medicare coverage, our resource on does Medicare cover long-term care covers the critical distinction between what Medicare pays for and what long-term care insurance is actually designed to cover.