Genworth Life Insurance Company Review [2024]

Genworth Life Insurance Company is a Genworth Financial company, formerly known as GE Financial. Our Genworth Life Insurance Company review finds that they provide financial security through retirement income, life, and long term care insurance, as well as financial and wellness advisory services.

UPDATED: Feb 13, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Feb 13, 2024Fact Checked

Ready to compare quick life insurance quotes?

Your life insurance quotes are always free.

secured lock Secured with SHA-256 Encryption

Maria Hanson

Insurance and Finance Writer

Maria Hanson grew up with a unique passion and understanding of both the automotive and insurance industries. With one grandfather in auto mechanics and another working in insurance, you could say automotive insurance is in her blood. Her love of research and finance serves her well in studying insurance trends and liability. Maria has expanded her scope of expertise to home, health, and life i...

Insurance and Finance Writer

Tim Bain

Founder & Life Insurance Agent

Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance.  His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada. 

Founder & Life Insurance Agent

UPDATED: Feb 13, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

UPDATED: Feb 13, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Feb 13, 2024Fact Checked

Important Note: Genworth Life Insurance Company no longer sells term life insurance. The content in this page is old, but may be helpful to existing Genworth Life customers. That’s why we kept it. Please keep this in mind as you read through the information and contact us if you have any doubts or questions.

As an online life insurance broker, we’re not limited to working with one specific life insurance company. By definition, a broker typically works with several companies but represents you, not the company.

Every life insurance company we make available to you has been carefully chosen to provide competitive prices, fast term life insurance application processing and underwriting (see guidelines here: life insurance underwriting guidelines), and an excellent customer service team. Today, we’ll take a closer look at one such company: Genworth Life Insurance Company.

What is the company history?

Genworth Life Insurance Company is a Genworth Financial company, formerly known as GE Financial. The company was founded in 1871. They provide financial security and protection through retirement income, life and long term care insurance, and related financial and wellness advisory services for millions of people across the U.S. Genworth is headquartered in Richmond, Virginia and they conduct business in all 50 states.

Genworth Life has an A- rating from AM Best rating service, and a BBB- rating from Standard & Poor’s rating service. These company ratings represent a measure of a company’s claims paying ability and overall performance.

What features are included with every term life insurance policy?

These features are often called “riders” in life insurance lingo. This simply means they “attach to” or “ride along” with your policy. These two are included for free with your policy.

1. Accelerated Death Benefit Rider

Genworth includes an accelerated death benefit (ADB) rider at no extra cost to you (in approved states). This benefit allows you to receive a portion of the death benefit if you become terminally ill, with a life expectancy of 6 months or less. The policy owner can request payment of up to a maximum of $500,000.

2. Conversion Option

A Conversion Option is included with no extra premium. You may convert the policy to select permanent life insurance policies issued by Genworth.  You do not need to show evidence of insurability to convert your policy, as long as you do it during the guarantee period of the policy, which expires at the end of the policy term or when you reach age 75.

What optional features can you add to your policy?

You can buy these optional riders and they will also become a part of your policy.

1. Waiver of Premium Rider

A Waiver of Premium (WP) rider is available with extra premium (in approved states). If you experience a total disability, and after a waiting period of six months, your premiums will be waived retroactively from the beginning of the disability. The premiums will continue to be waived for the duration of your total disability. It will expire on the policy anniversary nearest your 60th birthday. You can buy this rider if you are between the ages of 18-55.

2. Children’s Level Term Insurance Rider

The Children’s Term (CT) rider is also available with an extra premium when buying life insurance for children. It provides level term insurance on each insured child, up to age 25. One rider covers all children in the family and any new children born or adopted after the policy is issued, with no increase in cost. The minimum amount of coverage available is $1,000 and the maximum is $10,000.

You can buy this Rider if you are between the ages of 18-55 and your children are between the ages of 15 days to 23 years. It expires on the policy anniversary nearest your age 65 , or when your youngest child reaches age 25, whichever happens first.

What are the available policies?

Genworth term life policies are available in term lengths of 10, 15, and 20 years, during which your rates are guaranteed to remain the same. The minimum coverage amount is $250,000. A paramedical exam is required to apply for any policy.

Remember, working with an online life insurance broker has its advantages. Buying online allows you to complete the process at your own pace while avoiding pressure to buy. It also gives you a variety of life insurance companies to choose from.

Get started with a free term life insurance quote and let us know if you’d like one of our licensed Insurance Professionals to help you choose the best life insurance company for you and your unique circumstances.

Frequently Asked Questions

Is Genworth Life Insurance Company a reputable provider?

Genworth Life Insurance Company is a well-established company with a history dating back to 1871. They have an A- rating from AM Best and a BBB- rating from Standard & Poor’s, which reflect their claims paying ability and overall performance.

What features are included in every Genworth term life insurance policy?

Genworth includes an Accelerated Death Benefit rider at no extra cost, which allows you to receive a portion of the death benefit if you become terminally ill. They also offer a Conversion Option, allowing you to convert the policy to permanent life insurance without evidence of insurability.

Can I add optional features to my Genworth life insurance policy?

Yes, Genworth offers optional riders that can be added to your policy for an additional premium. These include a Waiver of Premium rider, which waives your premiums in the event of total disability, and a Children’s Level Term Insurance rider, providing coverage for your children.

What term lengths are available for Genworth term life insurance policies?

Genworth offers term lengths of 10, 15, and 20 years for their term life insurance policies. During the selected term, your rates are guaranteed to remain the same.

How can I obtain a free life insurance quote from Genworth?

You can compare quotes from different life insurance companies, including Genworth, by entering your ZIP code on our website’s free quote tool. It’s a secure process, and your quotes are always free.

Your life insurance quotes are always free.

secured lock Secured with SHA-256 Encryption

Maria Hanson

Insurance and Finance Writer

Maria Hanson grew up with a unique passion and understanding of both the automotive and insurance industries. With one grandfather in auto mechanics and another working in insurance, you could say automotive insurance is in her blood. Her love of research and finance serves her well in studying insurance trends and liability. Maria has expanded her scope of expertise to home, health, and life i...

Insurance and Finance Writer

Tim Bain

Founder & Life Insurance Agent

Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance.  His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada. 

Founder & Life Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

Ready to compare quick life insurance quotes?

Your life insurance quotes are always free.

secured lock Secured with SHA-256 Encryption

QuickQuote is a BBB Accredited Business. BBB