Genworth Long Term Care Insurance
Genworth Life Insurance Company suspended new individual long-term care insurance applications through the brokerage channel on March 11, 2019. In October 2025, Genworth Financial re-entered new individual LTC sales through its CareScout Insurance subsidiary with CareScout Care Assurance. Privileged Choice Flex and its successors remain legacy Genworth Life products; existing Genworth Life policyholders continue to be serviced under their contracts.
Genworth Long Term Care Insurance Products
Genworth's legacy individual long-term care product line included Privileged Choice Flex, a successor to the original Privileged Choice. While that product is no longer issued, the design choices it popularized — shared care riders, Live+Well wellness benefits, and optional transition cash payments — remain useful reference points for shoppers comparing today's traditional and hybrid LTC plans. Many consumers are unfamiliar with Genworth Life, which traces its roots back to the Life Insurance Company of Virginia in 1871.
The History of Genworth Financial's Long Term Care Insurance products
- 1974 Fireman's Fund Life pioneer the Long Term Care Insurance Industry
- 1985 Fireman's Fund becomes a subsidiary of AMEX Life Assurance Company
- 1986 Fireman's Fund Life renamed AMEX Life Assurance Company
- 1995 GE Capital acquires AMEX Life Assurance Company
- 1996 AMEX Life renamed General Electric Capital Assurance Company Long Term Care Insurance Division
- 2004 General Electric Capital Assurance Company Long Term Care Insurance Division becomes part of Genworth Financial and Genworth Long Term Care Insurance is created
Privileged Choice Flex: Features
Live+Well - One innovative feature included with the plan is Live+Well, a joint effort between Genworth Long Term Care Insurance and the Mayo Clinic.
Privileged Choice Flex also included some 50% Shared Care options. Shared Care is a popular option, but may not be for all policyholders, particularly due to the cost of the rider and the added coverage you could find elsewhere in a plan with the same premium dollar.
The optional Transition Benefit with Privileged Choice Flex provided policyholders with a cash option during the first days of need for Long Term Care. With these types of options, we find that most clients prefer to self insure the upfront costs and buy a policy that covers the more risky longer-term stays. After all, insurance is designed for catastrophic events that would otherwise stress your own liquid assets. If you can handle the first 90 days of care, buying insurance for that may not make sense, because there's always that chance you never use the coverage anyway. So finding that balance can be key.
Next Steps: Shopping the Carriers Still Issuing Coverage
Looking for the kind of coverage Privileged Choice Flex used to offer?
Because Privileged Choice Flex is no longer available, today's shoppers comparing traditional LTC insurance generally evaluate carriers like Mutual of Omaha, National Guardian Life, Thrivent, and CareScout, alongside hybrid life-with-LTC and asset-based options from Lincoln, Nationwide, New York Life, Securian, and Brighthouse. Request quotes and one of our independent agents (and just one) will provide a side-by-side comparison of the plans still on the market, with no sales meeting required.