AARP Announces New Long-Term Care Relationships

Approximately 60 percent of individuals over age 65 will require at least some type of long-term care services during their lifetime.

Despite the need for long-term care planning, most Americans still do not carry any form of coverage and fewer than two in five (37%) adults report that they have developed a plan to pay for their long-term care needs.

AARP recently announced a new relationship with Genworth Financial to provide unique long-term care planning solutions designed to meet the needs of AARP's 38 million members.  AARP also renewed its relationship with MetLife to continue to provide coverage and service to AARP members who are current long-term care insurance policy holders.

AARP's new relationship with Genworth will provide a broad portfolio of AARP endorsed long-term care coverage with flexible features and benefits.  Among the wide range of affordable options will be the introduction of a product with a price roughly half that of today's mainstream products.  Some of the endorsed products will include a special five-year rate guarantee, 60-day opt out clause and inflation protection features that are unprecedented in the industry.

The new products are scheduled to become available beginning in October 2007.  AARP members will be able to purchase products in the new long-term care portfolio through the convenience of the phone and Internet, and also through personalized consultation through a nationwide network of long-term care specialists.

For more information on AARP-endorsed health insurance products, please visit AARP's Web site at www.aarp.org

Comments

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