GE Long Term Care is now Part of Genworth

Getting a long term care is now more than ever a very critical decision you should make. Long term care can be loosely defined as a care that is provided by another person or party to an individuals who is no longer able to take care of themselves. While this may be more commonly associated with the elderly, long term care can apply to anyone at any age. Debilitating diseases can make any person get long term care or go to a long term care facility. Genworth Life Insurance Company can offer solutions to your long term care needs. Genworth used to be part of the GE financial and GE long term care.

To better understand the necessity of availing a long term care policy, Genworth published the 2007 Cost of Long Term Care Study in March 2007. The document contained an in depth study into the historical trends of long term care costs among different states. The survey is in its seventh year and is so far the most comprehensive of all with inputs from over 10,000 long term care nursing homes and facilities. After reading the survey, you will surely appreciate the need for a long term care provider and policy.

The need for long term care health insurance may not be very significant if you are still healthy and young. But accidents can and will happen and there is no telling when you will need long term care services. Some diseases never show up until after several years. Examples are Alzheimer's, Parkinson's, and other prolonged illnesses. These can limit a person's ability to think, move, interact and comprehend. Having a long term care insurance to cover the cost of service can help alleviate the burdens of expense.

Genworth is one of the leading financial security company and was formerly a part of GE. GE long term care services were taken over by Genworth when GE ceased to own any shares of Genworth's common stock. According to Genworth, they have approximately 15 million customers in more than 25 countries. They are now in the Fortune and Forbes 500 list and is one of the top 10 in America's Most Admired Companies, Insurance, Life and Health category by Fortune magazine.

But even with this stability, some individuals may still feel hesitant to take a long term insurance policy. The passage of the Health Insurance Portability and Accountability Act already made it clear that in a long term care insurance, it is you who is the one paying for the services if it is availed. Having your own long term care insurance helps you cover other items not usually covered by Medicare and Medicard. Long term care services include home health care, adult day care, nursing homes, residential care facilities, and many more.