February, 22 2017

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Genworth Life Insurance Review

Genworth Life Insurance Review

Author
  • Price
  • Underwriting
  • Financial Strength

Genworth Life Insurance Review 2016

In 2016 Genworth Life Insurance has suspended (closing) it’s sales for new life insurance.  This will not affect current policy holders but sales of new life insurance products will not be available. The review below was originally written a few years back but we have updated the ratings as of February 2016.

Pros:  Prices & underwriting- Genworth is typically right there at the top of the list for having some of the lowest rates in the country.   Also, Genworth has favorable underwriting guidelines for applicants facilitating an approval at the same rate that was applied for.  Size and market share- Genworth Life Insurance Company is a top 20 life insurance company in 2015.

Cons:  Not too many cons with Genworth Life Insurance.  One knock would be they no longer offer a 30-year term life policy which could be an issue for applicants seeking for a longer policy length. Also their financial rating is an A- (Excellent).

Bottom Line: Genworth is a top life insurer in America.  They usually have the best underwriting for build (height and weight) and for people with 5 moving violations in the past five years.    Genworth Life Insurance Company is right there at the top of the list in companies you should look at when shopping for life insurance.

 

About

Type: Genworth Financial-Public Company Trades on NYSE as GNW

Underwritten by: Genworth Life Insurance Company (U.S.A.)

Founded: 1871 (The Life Insurance Company of Virginia)

Website: www.genworth.com

Phone: (888) 436-9678

Address: 16620 West Broad Street Bldg 4, Richmond VA 23230

A.M Best Rating 2016: B++ (Good) Fifth highest of 16 possible ratings

Comdex Ranking 2016: 61 out of 100

BBB Rating: N/A

Competitors: New York Life, Northwestern Mutual, Mass Mutual, John Hancock, Principal, State Farm, Allstate, Ohio National Life, AIG, Banner Life, Protective Life, Primerica, State Farm, USAA, John Hancock, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential.

 

Price Comparison

Sample monthly premiums on a 20-year level term policy for a 40-year old male at each company’s best rating class:

CoverageGenworth (A Excellent)Banner Life (A+ Superior)AIG (A Excellent)MetLife (A+ Superior)
$100,000$11.64$11.55$14.44N/A
$250,000$18.38$20.34$18.94$21.74
$500,000$31.06$31.06$31.85$37.26
$750,000$44.41$43.75$44.98$52.79
$1 Million$56.00$56.44$58.10$63.81

 Genworth Life Insurance Review

To receive a quote from Genworth and to compare the other top rated life insurance companies click on the green button below.

 

 

 

Please rate your experience with Genworth Life Life Insurance Company.  Would you recommend them to others?

 

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