Jolene's complaint:
June 03, 2013

Insurance Company: Genworth Financial
Coverage Type: Health Insurance

• Underwriting - Premium Too High

I bought Long Term Care Insurance from Genworth Financial (then called GE Capital) 13 years ago. Since I had cared for my mother and knew the importance of this type of converage, I knew it was something that I would need in the future. By purchasing it at a younger age, I was locking in a lower premuim. I purchased their best coverage.

My yearly premium is due in July of each year. I have now received a letter stating that my premium is increasing by 25%!
How can a company, in any kind of good conscience, impose an increase that high? Now that I am getting to an age, 62, where I may actually need this coverage, they are increasing the premium to a point where my abaility to keep paying it is definately in question. I have paid $2145 per year since age 49. It was a stretch to make the payments all these years and now they are making it impossible. This type of premium increase should be illegal.

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