The new website, part of Genworth's over-arching consumer campaign to educate and advance change in the long term care industry, presents a holistic view of the long term care issue and allows consumers to compare the cost of care, determine care needs and develop a long term care strategy to best suit their circumstances. From frequently asked questions about long term care and caregiving, to specific checklists that can help families initiate conversations and create a plan, longtermcareinsurance.org guides consumers along every step of the process. After evaluating their options, if desired, consumers can request a consultation and quote for long term care insurance. The website will not present or discuss Genworth long term care insurance products.
"There isn't a one-size-fits-all mold when it comes to long term care planning. We're dedicated to providing consumers with resources so that they can make the right decisions for their families and loved ones," said Tom McInerney, CEO of Genworth. "Longtermcareinsurance.org future plans include featuring real stories about the importance of long term care planning that consumers can relate to, as well as expert third-party insight and guidance to allow consumers to make the right financial planning choices. This is just another way we're trying to drive change in the long term care space."
Surprisingly, despite well-known demographic shifts of people working and living longer, many Americans do not recognize the need for a long term care plan. Seventy percent of Americans turning 65 can expect to need some form of long-term care during their lives. However, according to research conducted by the Associated Press-NORC Center for Public Affairs Research, 65 percent of those 40 years or older report having done little or no planning. Additionally, many Americans 40 or older overestimate the amount that Medicare and Medicaid will help, with 39 percent believing that Medicare should share a large or very large amount of the financial responsibility, and 37 percent believing Medicaid should do the same.
"As a leader in the long term care industry, Genworth embraces its obligation to educate, innovate and bring new solutions to market that meet the long term care needs of Americans," added John Whitcomb, senior vice president of thought leadership for the U.S. Life insurance division. "The National Advisory Center for Long Term Care Information is part of our multi-pronged approach to ensure we are living up to our responsibility to prepare consumers for their future long term care needs."
Ongoing news, industry updates and guidance on navigating long term care will be available at Longtermcareinsurance.org. Genworth also provides a host of tools and other resources to help close the financial literacy gap and help Americans properly plan for their financial futures, including: