Genworth Financial
One of the numerous Genworth Financial (GE Financial) companies is Genworth Life Insurance. What Genworth Financial offers is financial services throughout the world. Its plethora of companies deal in life insurance, investment services, mortgage insurance and annuities amongst other things, always putting the needs of the customer first. Richmond, Virginia is the home of Genworth Financial, and boasts 6,000 employees, based in 25 countries worldwide. Its formation can be traced back to when the Life Insurance Company of Virginia wrote the first insurance policy in the state in 1871. The mission of the company is perfectly illustrated in its own words: Genworth Financial is dedicated to helping individuals and families achieve their goals in a world of shifting financial burdens.
Policy Benefits and Flexibility
Genworth Financial does not try to complicate insurance matters, preferring to keep things simple for the sake of its customers. They have two main plans, term life and universal insurance policies. Their term life policies are simplicity itself, its available policies spanning 10, 15, 20 and 30 years. With low payments and a predetermined payout guarantee to the beneficiary, term life policies are perfect for a family that cannot afford comprehensive whole life insurance. The main drawback to this particular policy is that once the time expires, you are completely unprotected. Also, if you happen to miss a payment, you are not covered until you are able to pay what is owed on the policy.
That said term life insurance is a good safety net against sudden disasters. However, universal insurance has many advantages over term life. For a start, if you miss a payment, you are still protected, as you have a limited time to get back up to date. Also, you are able to lend money against the cash value of your policy. Naturally, this loaned money will result in a lesser payment for the beneficiary, unless the policy holder repays this money before their death. Quite simply, the higher the life insurance policy, the greater the payment received by the beneficiary. Of course, with all its advantages over term life insurance, universal life's premiums are substantially higher.
Genworth Financial is a registered trademark of Genworth Financial. Genworth Financial is not affiliated with, nor does it endorse or sponsor, the contents of this webpage or the InsureWish.com website. Trademarks referring to this provider are used by InsureWish.com for nominative purposes only; to identify the source of the products from which the information is provided. Such trademarks are solely the property of the respective owners.
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