Genworth Financial Inc (GNW)

[Boing x 2]

Peachman,

Right you are.

My wife and I just got hit with a big rate increase again. About 3k a year between the two of us. We have been with them over 11 years.

Plus they say they are going to increase rates again in 4 years. Been with them though several rate increases.

This one was the straw that broke the camels back. We therefore are electiing paid up premiums at the current daily rate with no further payments. We are taking the money we pay and putting it into a segregated savings account to supplement any future care over our current significant contributions.

We have always paid before the end of the year for tax reasons and when I called to ask for this years bills on us both I mentioned at least you are not having to deal with people about another rate increase and the lady said zip, nada nothing about the fact the letters were coming out on another rate increase. There is no way she did not know the letters were in the works.

I called on a Thursday and got notice of the rate increases on Sat.

If as many people do like we are doing they are going to be lookin at massive cuts in income.

With our separate account we can use if for either of our care over and above Gen Worth money. If we don't need the money it will go to the kids.

Boing X 2