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Genworth Privileged Choice |
Privileged Choice is one of the most complete long term care insurance policies on the market today. Once you qualify for benefits Privileged Choice will pay for home health care, assisted living care, adult day care, and nursing home care at 100% of your selected monthly benefit level.
Genworth Home and Community Care CoveragePrivileged Choice will pay your home health care benefits from day one without having to satisfy your elimination period at 100% of your monthly benefit level. Genworth Financial has been a leader in the long term care industry in researching and understanding the problem through various in-depth studies. This research has given them an advantage in coming out with custom long term care insurance products to meet consumer's ever changing needs.
- Skilled Services: Nursing care, speech therapy, respiratory, and occupational care from licensed professionals.
- Home Health Care Aides: Privilege Choice will pay for an aide to assist with personal hygiene, activities of daily living and help with managing your medications.
- Homemaker Services: Privilege Choice will pay a home health care aide to prepare meals, take out the trash, do laundry and light house keeping.
Privileged Choice will also pay for Caregiver Training up to 20% of your monthly maximum of benefits. If you have a person in mind that you would like to help take care of you then Privilege Choice will help pay for your training so they can learn how to safely help you.
Privileged Choice will also pay for Equipment and Home Modification up to 2 times your monthly maximum. This will pay for home modifications like ramps up the stairs, rails in the bath-room, or stair lift.
Facility Care CoverageThere could be a point in your life where it might be better to receive care in an assisted living facility or nursing home and your Privilege Choice policy will cover you there as well. Your policy will pay 100% of your monthly benefits for facility care.
Included Features and Benefits in your Privilege Choice policyAlternate Care Benefit: Your policy will cover some additional expenses that may come up that the policy does not specify such as meals on wheels, medical alert devices.
Respite Care: If your primary care giver needs a vacation your Privilege Choice policy will pay for your care while they are away.
Waiver of Premium: Once you go on claim with Privilege Choice and start to receive benefits your premiums will be waived as long as you are on claim. No back premiums have to be paid if you come off claim either...they are simply waived.
International Coverage: If you receive care in a qualified nursing home outside the US your Privilege Choice policy may reimbursed 75% of your monthly maximum for a maximum of 48 months. You premiums will not be waived during this time though and no other policy benefits will apply while out of the country.
Premium Stability: They reserve the right to raise rates in the future, however, Genworth has never to do so on any policy issued by them since they pioneered the industry in 1974 and your premiums will never increase as result of a change in health or age.
Guaranteed Renewable: Once you are insured and have your long term care insurance policy in-force as long as you pay your premiums on time and you have not used all your benefits, your coverage is guaranteed renewable and cannot be canceled by Genworth.
Survivorship Benefit: For couples who have had there in force for at least 10 years...when one spouse dies no further premiums will be required for the surviving spouse's life of coverage.
Genworth Financial Privileged Choice Shared Care Benefit for Couples:With this policy you have one policy that can be shared by both people separately or at the same time. If one dies the full policy value is still available for their surviving spouse.
- Joint waiver of premium: if just one person goes on claim the premium is waived for both
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