Genworth Life Insurance Review

Life insurance provides financial security for your loved ones when they need it most. With the right planning, you can help ensure your family’s finances are protected if you aren’t there to provide for them.

By: admin Posted: September 28, 2010

The Good

Low Premiums • Detailed Information Available on Website

The Bad

Limited Policies Available

Overview

Started in 1871 as The Life Insurance Company of Virginia, Genworth Financial has been providing a variety of insurance products to keep individuals and their families financially secure. Now with over $100 billion dollars in assets, Genworth works with their customers to meet their needs and deliver them the best quality insurance they could possibly provide. Genworth also operates in 25 countries and is listed in the S&P 500.

Policies / Plans

Genworth does not offer term life insurance anymore to individuals. You must be involved in a group policy to be eligible for life insurance. Their only other policy is a universal life insurance policy. The universal policy has a small cash accumulation and the the cash value can be withdrawn at any time.

Pricing / Rates

The premium payment offered from Genworth was much lower then other companies. A universal policy would've costed $253. Other similiar policies were marked in the range of $300 or $350 per month. The fact that the cash accumulation is smaller is offset by the lower accumulation.

Getting A Quote

Like other companies, you can receive a quote by filling out an online form on Genworth's website or calling their toll-free number. Either way, it's fairly painless and you'll know what type of premium and the details of your policy fast.

Customer Service

Genworth's customer service was average. Nothing really stood out about the rep that answered the phone. That is nothing neither good nor bad. The conversation was boring, she was unenthusiastic about solving a problem, and seemed to be un-interested and focused on other things.

Summary

Overview:

Policies / Plans Rating:

Policies / Plans:

Pricing / Rates Rating:

Getting A Quote Rating:

Getting A Quote:

Customer Service Rating:

Overall Rating:

7.20

Genworth has a lower premium then other companies so that's their main positive. However, the lack of different policies and average customer support outweigh the lower premiums. It isn't recommended that you have to receive a quote from Genworth but if you have an office in your local area, it may be worth a shot.