Long-Term Care (LTC) Insurance, offered by Genworth Life Insurance Company of New York (Genworth Life), can help you and your family pay some of the costs associated with long-term nursing home or home healthcare services that are not covered by traditional medical insurance or Medicare. As a newly hired Officer, this is your opportunity to enroll in LTC through a streamlined application, if you are under age 66.
LTC Insurance is available to you, your spouse, your domestic partner, your parents/ parents-in-law, grandparents/ grandparents-in-law and adult children. You do not need to be enrolled in LTC in order for a family member to apply for this coverage. Once you or a family member are approved for the LTC benefit, coverage is guaranteed as long as the premiums are paid. The cost of LTC coverage depends on the level of coverage you choose and your age when your application is signed. The younger you are when you enroll, the lower your premium.
For information on eligibility and restrictions, or to apply for coverage, visit Genworth Life
or call 800-416-3624.
How LTC Insurance Works
- Nursing home or alternative care facility – 100% of daily maximum benefit
- Home healthcare or adult care services – 75% of daily maximum benefit
- Informal care such as light housekeeping or shopping – 25% of daily maximum benefit, up to 30-day annual maximum.
You can elect a daily maximum benefit of $100, $150, $200 or $250.
For additional information, please view the educational video: