Genworth Life Insurance Review (2026)
Rated BB- (Fair) by AM Best,¹ Genworth Life Insurance Company stopped issuing new life insurance policies in 2016, making it a company most relevant to existing policyholders rather than new shoppers. The company's previously-issued life insurance policies remain in force, though its financial strength ratings have declined significantly over the years.
Key Takeaways
Best for: Existing Genworth life insurance policyholders managing in-force coverage.
Standout feature: Legacy life insurance policies remain in force and continue to be serviced. A new long-term care insurance is available or those seeking new coverage.
Financial strength: BB- (Fair) from AM Best.¹
How to access: Existing life policyholders can manage coverage by phone or online portal; no new life insurance applications are accepted.
About Genworth Life Insurance
Genworth Financial is a U.S.-based insurance and financial services company with deep roots in the life insurance industry for over 145 years. Genworth is headquartered in Richmond, Virginia, and trades on the New York Stock Exchange under the ticker symbol GNW.²
Genworth’s portfolio included both term life and permanent life insurance solutions issued through several insurance subsidiaries. Although the company is no longer a major participant in new individual life insurance sales, many previously issued policies remain active and continue to be serviced by Genworth’s affiliated entities.
Today, Genworth’s business is more closely associated with long-term care insurance operations. Its life insurance segment is now primarily focused on the administration and management of existing policyholder obligations and legacy insurance portfolios.
Genworth Life Insurance Review for 2026
This 2026 review examines Genworth’s financial strength, policy servicing operations, claims experience, and overall relevance for consumers evaluating legacy life insurance providers.
Genworth Financial Strength and Ratings
Financial strength ratings reflect an insurer's ability to meet its long-term obligations to policyholders. For a company like Genworth, the financial ratings stand as follows:
- AM Best: BB-¹
This rating indicates a higher level of financial risk compared to many leading life insurance carriers. Although AM Best has assigned a positive outlook, suggesting some signs of financial stabilization, the rating remains below investment-grade levels typically associated with stronger insurers.
Genworth Life Insurance Products
Genworth's life insurance product lineup is not available to new applicants. However, life insurance reflects the company's historical offerings, which remain in force for existing policyholders.
Long-Term Care Insurance
Genworth is widely recognized for its long-term care insurance business, which has been a major part of the company’s operations for many years.
Its long-term care solutions are designed to help policyholders manage the financial impact of extended care needs that may arise due to aging, chronic illness, disability, or cognitive conditions such as Alzheimer’s disease.
These policies generally help cover services that are not typically included under standard health insurance, including nursing home care, assisted living, adult day care, and in-home caregiving services.
Genworth Life Insurance Underwriting and Application Process
Genworth does not currently underwrite or issue new individual life insurance policies. The information below applies to existing policyholders managing in-force coverage or exploring options under their current contract terms.
Underwriting Requirements
Genworth no longer actively sells new individual life insurance policies, and its life insurance operations are primarily focused on servicing existing policyholders and managing legacy insurance business. As a result, traditional underwriting is generally not part of a new policy purchase process.
However, underwriting requirements may still apply in certain situations involving existing policies, such as reinstatements, policy modifications, or the exercise of specific contractual provisions, depending on the terms and conditions of the original policy.
How to Apply
Genworth does not accept new life insurance applications. Existing policyholders who wish to manage their policy, explore policy conversion, or ask about coverage options should contact Genworth directly by phone or by email. There is no online application pathway for new life insurance.
Genworth Life Insurance Customer Experience
Genworth's customer service model for its life insurance business is focused on policy servicing rather than new sales. The company maintains a dedicated life insurance customer service line and email contact for existing policyholders.
Customer Service and Contact Options
Existing Genworth life insurance policyholders can reach the company through the following channels:³
- Phone: 888-436-9678 (8:30 a.m. to 6 p.m. ET Monday-Thursday, 9 a.m. to 6 p.m. ET on Friday)
- Email: [email protected]
Genworth does not offer live chat support for life insurance policyholders. The website supports policy management and claims filing for all existing customers.
Genworth Life Insurance Claims Process
Genworth allows beneficiaries to initiate a life insurance claim either by phone or through the policyholder portal available on its official website. The claims process generally requires beneficiaries to submit supporting documentation for verification and processing.
Typical requirements include:
- A certified copy of the death certificate
- Completed claim forms provided by Genworth
- The original policy document, if available
Beneficiaries can contact the company directly to begin the claims process and confirm current documentation requirements and estimated turnaround times.
Genworth Life Insurance Pros and Cons
Since Genworth primarily services existing life insurance policies rather than actively marketing new ones, its advantages and limitations differ from many national life insurers. Here are some pros and cons to consider:
Pros of Genworth Life Insurance
- Existing Genworth life insurance policies remain in force and continue to be serviced by the company, allowing policyholders to maintain coverage, make premium payments, and access claims support.
- Certain eligible term life insurance policies may include a conversion option, allowing policyholders to convert term coverage into permanent life insurance without completing a new medical exam.
- Genworth remains a recognized provider in the long-term care insurance market and continues to support policyholders through its long-term care services.
- AM Best revised Genworth’s outlook from C++ (marginal) to BB- (fair), reflecting signs of improving financial trends and operational stabilization.
Cons of Genworth Life Insurance
- Not an option for shoppers seeking to buy a new life insurance policy today, since Genworth no longer sells life insurance.
- Limited digital support compared to many modern carriers, including no live chat option for customer assistance.
More Life Insurance Reviews
FAQs on Genworth Life Insurance
Genworth life insurance may simply work existing policyholders who purchased coverage before the company stopped selling new individual life insurance policies in 2016. Current customers can continue maintaining their policies, paying premiums, accessing customer support, and filing claims through Genworth’s ongoing policy servicing operations.
Genworth previously offered term life insurance, permanent life insurance, and annuity products through its affiliated insurance subsidiaries. While the company no longer sells new individual life insurance policies, many existing policies remain active and continue to be serviced for current policyholders and beneficiaries.
Beneficiaries can begin a Genworth life insurance claim by contacting the company directly or accessing the policyholder portal through Genworth’s official website. Required documents typically include a certified death certificate, completed claim forms, and policy information needed to verify coverage and process the claim.
Some eligible Genworth term life insurance policies may include a conversion privilege that allows policyholders to convert term coverage into permanent life insurance without completing a new medical exam. Conversion eligibility, deadlines, and available options depend on the original policy terms and contract provisions.
Customer feedback about Genworth is generally mixed and often depends on individual experiences with policy servicing, claims handling, and long-term care insurance. Existing policyholders frequently value continued policy support, while some individuals share concerns related to communication, or the company’s financial outlook.
Author
Chief Underwriter
Expert review
Chief Compliance & Privacy Officer
Last updated: May 31, 2026
You might also like
Recent articles
Popular articles
%2F2025%2520Update%2FAdobeStock_396125169_ov85k4.jpg&w=828&q=75)
%2FStocksy_txpdf1a777167U200_Medium_1911062_horizontalEdited_znqhgh.jpg&w=828&q=75)
