Privileged Choice Flex 3, which features integrated simplicity of prepackaged benefits, will be issued by Genworth Life Insurance Company.
GNW said that its new FlexFit will directly address the affordability issue with FlexFit Premium packages, containing options starting at less than $100 per month.
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Commenting on the launch of the new product, Genworth president and CEO Tom McInerney said, "We are committed to providing long term care funding solutions with flexible options and strong benefits that meet the diverse needs of today’s families."
"FlexFit allows more Americans to take control of their long term care future for not much more than what it costs for a daily latte.
Available to consumers in two package options including FlexFit Premium and FlexFit Coverage, these products expand quality, affordability, and long term care financing solutions, according to Genworth
FlexFit Premium is based on an annual premium, while FlexFit Coverage is based on an initial coverage amount.
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By GlobalDataIdeal for a person with limited budget, FlexFit Premium package options begin at $1,000 per annum, while the FlexFit Coverage package has options starting at $100,000 of initial coverage.
