That is the bottom line--are they safe and sound? They just spun off some of their medicare supplement business to Aetna. Will that help them? My concern is the mortgage side of the business and how that is weighing them down.
I'm looking at Genworth, Mutual of Omaha, maybe Prudential. John Hancock used to be reasonable, but now I think the new policies are much higher.
Your thoughts are appreciated.
Genworth Life Ins. Co. does not sell mortgage insurance.
Genworth Life Ins. Co. sells long-term care insurance, life insurance, and annuities--all of which are highly profitable products.
Do not confuse Genworth Life Ins. Co. (which underwrites long-term care insurance) with Genworth Mortgage Ins. Corp. (which underwrites mortgage insurance.) They are two separate entities. Genworth Mortgage Ins. Corp. could go bankrupt and it would have no impact on Genworth Life Ins. Co.'s policyholders.
Genworth Life Ins. Co. is not responsible for the debts of Genworth Mortage Ins. Corp.
Genworth Mortage Ins. Corp. canNOT "weigh down" Genworth Life Ins. Co. because they are two separate legal entities.
Scott A. Olson