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Genworth Launches New Advisory Council on Long Term Care

02/17/15

Prominent subject matter experts will join together and provide information to consumers looking to learn more about long term care

RICHMOND, Va., Feb. 17, 2015 /PRNewswire/ -- Today, Genworth is introducing a new Advisory Council on Long Term Care – a panel of four prestigious subject matter experts in the fields of aging, caregiving, psychology and financial planning. Bringing years of industry experience to the table, the Advisory Council will serve as advocates for the importance of long term care awareness and planning by contributing content to the National Advisory Center for Long Term Care Information (NACLTCI) educational hub, longtermcareinsurance.org.

Longtermcareinsurance.org was designed as part of Genworth's campaign to grow awareness among consumers about the importance of planning for long term care. The site is an educational center with tools and resources dedicated to providing consumers with information about their long term care options, and the first steps involved in planning. The Advisory Council will add additional value by providing personal anecdotes and experiences, research, advice and more.

A recent survey conducted by Genworth found that nearly 70 percent of respondents underestimated the need for long term care in America, unaware that, the Department of Health and Human Services estimates nearly 70 percent of American adults over the age of 65 will require some form of long term care in their lifetime1. Additionally, of respondents without long term care coverage, only 15 percent had an alternate plan in place.

"The number of individuals who were uneducated about even the basic need for long term care was surprising, as were the number of respondents who indicated that they have not started planning for long term care, or don't know where to begin. The results made us realize how much more there is to be done so that families are prepared for the eventual needs of their loved ones," said John Whitcomb, senior vice president of thought leadership for the U.S. life insurance division of Genworth. "The goal of longtermcareinsurance.org and the new Advisory Council for Long Term Care is to close the information gap by providing resources for consumers who want to learn about what long term care options exist, and which of those options make the most sense for them."

The Advisory Council will consist of the following experts:

Sally Abrahms, Blogger

Sally's passionate about the issues of baby boomers and aging, and knows them first hand. She is an award-winning writer and nationally recognized expert on baby boomers and seniors. She has published in TIME, Newsweek, AARP (AARP the Magazine, the AARP Bulletin, aarp.org), The New York Times, The Wall Street Journal, Forbes, USA Today, The Huffington Post and The Los Angeles Times, among others.

Jennifer Hatch, Christopher Street Financial

Jennifer has accumulated nearly thirty years of Wall Street experience. She began her investment career at JP Morgan and then Bear Stearns where she specialized in two institutional markets: high yield bonds and later, global equities. She has been the owner and President of Christopher Street Financial since 1997, developing creative solutions to the financial dilemmas of same-sex couples. Jen is a co-chair of SAGE's Leadership Committee, and is also deeply involved with the efforts of Family Equality Council and Broadway Cares/Equity Fights AIDS.

Dr. Barbara Nusbaum, Psychologist and Money Coach

Dr. Barbara Nusbaum is a psychologist and thought-leader in the emerging field of financial/money psychology. Using her psychological perspective, she is changing our money conversations, making them about us -- real people with real lives. She connects money and money decisions to our feelings, beliefs, values, relationships, and our personal past, present and future. Dr. Nusbaum works in her office with individuals, couples and families, and reaches more broadly with financial organizations and professionals, non-profits, schools and in the media and social media. 

Dr. Bradley Willcox, Geriatrics and Gerontology

Dr. Willcox is an investigator in the area of geriatrics and gerontology at PHREI and is a Clinical Assistant Professor in the Department of Geriatric Medicine of the John A. Burns School of Medicine, University of Hawaii. Dr. Willcox is an author of the "The Okinawa Program," a NY Times bestselling book that highlighted factors that lead to exceptional longevity in Okinawa. He has been honored with the Dorothy Dillon Eweson Special Lectureship for Advances in Aging Research from the American Foundation for Aging Research and received a Director's Citation from the Centers for Medicare and Medicaid Services.

The Advisory Council will contribute written pieces, video content and more to longtermcareinsurance.org, focusing on the many issues and questions related to long term care.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company committed to helping families become more financially secure, self-reliant and prepared for the future. Genworth has leadership positions in long term care insurance and mortgage insurance and competitive offerings in life insurance and fixed annuities that assist consumers in solving their insurance, retirement and home ownership needs.

Genworth operates through three divisions: U.S. Life Insurance, which includes long term care insurance, life insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other Division, which includes the International Protection and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth, headquartered in Richmond, Virginia, traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com. From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of genworth.com. From time to time, Genworth's publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at http://genworth.ca and http://www.genworth.com.au

1 http://longtermcare.gov/the-basics/who-needs-care/

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/genworth-launches-new-advisory-council-on-long-term-care-300036838.html

SOURCE Genworth Financial, Inc.

Al Orendorff, Genworth, 804-662-2534, al.orendorff@genworth.com, www.genworth.com/newsroom; Hilary Richards, Prosek Partners, 212-279-3115 ext. 206, hrichards@prosek.com

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