Genworth Financial Inc. will temporarily suspend individual long-term care insurance policy sales in a major market, California, starting March 21, the company said Wednesday.
The individual LTCI products Genworth has been selling in California, the California Choice and Choice Partnership products, accounted for 12 percent of Genworth's 2012 LTCI sales, the company said.
The Genworth LTCI operation is descended from a San Rafael, Calif.-based Fireman's Fund unit that started selling LTCI policies in California in 1974.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
