![\"Long-Term](\"http:\/\/i2.wp.com\/www.theeldercarefirm.com\/wp-content\/uploads\/2013\/08\/Long-Term-Care-Insurance.jpg\")
<\/a><\/p>\nThe nation\u2019s largest seller of long-term care insurance, Genworth Financial, is engages in an \u201cintense, very broad, and deep review of all aspects of our long-term care insurance business,\u201d President and CEO Tom Mclnerney told investors.<\/p>\n
(Related:\u00a0Survey Shows Women Are Focusing on Saving for Retirement<\/a>)<\/p>\n Sources within the industry say that the firm may withdraw from the market in the event it does not win regulatory approval for new rate hikes on roughly 650,000 older, existing policies.<\/p>\n In addition, the firm requires state to approve changes that would enable the company to sell policies that more strictly underwritten and that offer shorter benefit periods, lower daily benefits, and other changes.<\/p>\n (Related:\u00a0Preventing Alzheimer’s<\/a>)<\/p>\n \u201cWe are prepared to take actions such as suspending sales in states and ending new sales through distribution channels where we cannot offer products within an acceptable risk-adjusted return,\u201d the spokesman said.<\/p>\n A major downturn has created a struggle in the long-term care insurance business<\/strong> (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The nation\u2019s largest seller of long-term care insurance, Genworth Financial, is engages in an \u201cintense, very broad, and deep review of all aspects of our long-term care insurance business,\u201d President and CEO Tom Mclnerney told investors. (Related:\u00a0Survey Shows Women Are…<\/span><\/p>\n