Long-Term Care Insurance
This April, you’ll have a special opportunity to enroll for long-term care insurance with Penn’s new vendor, Genworth Financial.
An accident, illness or chronic disease can strike anyone—and at any age. If it happens to you or your loved ones, will you be financially prepared? Long-term care insurance can help you cover some of the costs of long-term care services received at home, in the community or in a nursing facility. Plus, the younger you are when you apply, the lower your premium will be.
Full-time faculty and staff have until May 11, 2012 to enroll. If you enroll during this period, you’ll be guaranteed acceptance into the plan regardless of your health status. Coverage will take effect on June 1, 2012. All applicants must maintain a permanent U.S. residence and have a valid social security number or tax identification number.
Certain family members are eligible for coverage as well, but they must provide proof of good health and are subject to underwriting. Eligible family members include the following: spouses, domestic partners, adult children, siblings, spouses of siblings, parents/parents-in-law, step parents/step parents-in-law, grandparents/grandparents-in-law, and step grandparents/step grandparents-in-law.
If you already have an existing long-term care contract with our previous vendor—John Hancock—you’ll retain your coverage, but will have the opportunity to enroll with Genworth later this year.
For questions on Genworth policies:
For questions on current policies with John Hancock: