Like all life insurance companies, Genworth Life Insurance Company reduces risk for your loved ones. Life insurance is not something that we humans like to think about too often. Its real value benefits survivors; the policy owner seldom gets to enjoy the financial windfall! But that’s life, or perhaps the opposite. Buying life insurance is really an act of love and concern for those for whom we are responsible; children and your spouse, who will be the children’s caretaker should something happen to you. There are a number of insurance companies in the marketplace competing for your business, and it is difficult to choose one that’s best. One insurance company that is highly respected by corporations and financial experts is Genworth Life.
If you’re not familiar with the Genworth Life Insurance Company, it’s no big surprise. You’re probably more familiar with the names of their two insurance subsidiaries, the American Mayflower Life Insurance Company of New York, and the First Colony Life Insurance Company. The parent company, Genworth Financial, which is owned by General Electric, has been a fixture in the financial sector since the latter part of the 19th century. It has since grown to be one of the largest insurance providers in the United States, and has successfully expanded into markets around the world, maintaining the highest ratings from A.M. Best and Standard & Poor’s.
Genworth Life Insurance Company offers a selection of insurance instruments to the general public and to corporations: term insurance, whole life insurance, fixed universal and variable universal life policies. The most beneficial coverage for young growing families, however, are the term life policies.
Their term life plans are four: 10-year, 15-year, 20-year, and 30-year term plans with guaranteed level premiums for the specified life of the plan. Each of these plans offers accelerated death benefits, policy loans, and a policy change options as standard features, and waver of premium, children’s riders, and basic cash value riders as optional features at extra cost. Coverage in these plans usually extends until the age of 97.
The cash value rider is of particular interest, especially to younger customers. If you outlive the period of the term, you will receive a payback of all of your premiums for that period. In other words, if you have a twenty-year term policy with this particular optional rider, and you live beyond the twenty-year term, you will be repaid for the total of all premiums paid during that twenty year period. If you’re careful and lucky enough, you’ll provide your family with years of insurance protection and get your principal back in the end.
Despite the negative implications to your personal future, protecting your family with a good insurance policy is a responsible and loving act. A good term policy will give you the best amount of protection at the most reasonable cost. The Genworth Life Insurance Company would be an excellent choice for providing that protection.