Experiences with Genworth?


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Hello, this is my first post (other than my introduction). I was just wondering if anyone had any experience with Genworth Life Insurance Company (I'm licensed with them), or if anybody was familiar with OakTree Brokers (Virginia Based IMO)?

Thanks, Dave.
genworth's Ok, nothing special for you as an agent. Pricing is good, just like everybody else their underwritting slow...

But nothing exceptional to report and nothing terrible either...
I submitted my first app with them this week, nothing earth shattering, a 25k Gtd to 100 U/L, getting a paramed scheduled for this coming week. I guess I'll find out just how slow that underwriting is. Any thoughts about Life Investors?

Thanks, Dave.
Never worked with life investors. I am finding most carriers to be slow as they try to do more with less people. Underwriting seems to take longer than it did a decade or so ago...

It isn't all the carriers fault. An aps can add a month onto underwriting, a slow to schedule examiner can add time..

I am finding the average to be 8 weeks. In the old old days, it took about 3.
I submitted an app to Life Investors last month, 85 Y/O, 50k UL Gtd to 100, in fair health (no heart attack or stroke in last 2 yrs, no diabetes, no Alzheimers, did take BP and Heart meds), and Life Investors automatically declined it. It took them a week and a half to tell me that she was declined. In the meantime, when I went back to her and her daughter, I was told that they had bought a policy from AARP/United of Omaha off of television, 30k for around 400.00 per month. When I asked to see the policy, I saw that it was a Graded Death Benefit. I asked the daughter did she realize this, and she said that she didn't know what Graded Death meant. I explained, but she steadfastly refused to believe me. I lost the sale, but if that lady dies in the next 2 years, her daughter is up the creek(they needed the money to pay off a mortgage). The moral of the story is, if I had realized how long it would take Life Investors to tell me yes or no, I would have placed them with someone like Pioneer American, with a simplified issue final expense product, and been done with it. Well, they say you pay for your education, and losing about 2500.00 worth of commission on that case, after spending around 200 dollars to drive the 150 miles from my office to their home 4 times in my old Lincoln, I paid big.

Thanks, Dave.
85 year olds are hard to place anywhere. You should have done a trial app, I have some cases that take 4-6 weeks to get an answer. In addition, hard to make the numbers work on someone this age.
85 year olds are hard to place anywhere. You should have done a trial app, I have some cases that take 4-6 weeks to get an answer. In addition, hard to make the numbers work on someone this age.

That's what I thought as well. I don't think there are that many companies who will insure someone past 74, or its more of a niche market.
Underwriting is a bit slow at times, but... I did have to file a death claim a few months ago, and after all the paperwork was submitted I had a check to deliver in less than 7 business days.
I've had one bad experience with them but hopefully it's a one time case. Mailed a term-life app to them with initial check. They lost it and claimed they never recieved it. Certified delivery reciept proved them wrong.

Then they found it on their system but never found the check. Had client mail them a new one (I was in Alaska at the time.) They recieved it but didn't know what it was for and mailed it back to the client. Now client was traveling and didn't get the returned check for about 3-weeks.

I finally got a 3rd check maied it certified with a very direct letter about what to do with it. Policy got issued.

I think they just have growing pains. They just got separated from GE in the recent past and I think they are like a brand new company except they're huge.

I've used them since with no problems.