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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
Update:
- Final approval was granted June 28, 2022.
- Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
Nationwide consumers who own a PCS I or PCS II long-term care insurance policy through Genworth Life Insurance Co. or Genworth Life Insurance Co. of New York may be eligible to receive certain disclosures, new policy options, and potential payments or credits thanks to a recent Genworth class action settlement.
Settlement Class Members include all policyholders who own a PCS I or PCS II long-term care insurance policy or state variations of those same policies anywhere throughout the United States.
According to the class action lawsuit, the company withheld material information from policyholders regarding future rate increase plans, which would have been necessary to implement in order to pay future claims. This lack of information, the plaintiffs allege, amounted to fraudulent inducement by omission.
The company, which offers long-term care, mortgage, and other insurance products, denies all allegations and claims of wrongdoing and does not accept legal liability for any of the allegations.
The Court did not make a ruling in this case, so no determination of guilt has been made. Both the plaintiffs and the company opted to agree to the terms of the proposed settlement agreement rather than continue pursuing the case in court.
As part of the class action settlement, Class Members will receive a special election letter, which will contain information about Genworth Life’s future rate increase plans and the reason these increases are needed. At that point, they’ll have the right to elect to either keep their existing rate or choose from a selection of reduced paid-up benefit options or reduced benefit options.
Eligible Class Members have three options.
Class Members who do not take action will be bound by the terms of the settlement agreement, which means they’ll lose the right to pursue future lawsuits regarding this matter. These Class Members will receive a letter regarding the settlement benefits.
The second option Class Members have is to exclude themselves from the current settlement. Class Members who opt to exclude themselves will retain the right to seek out future litigation against the Company regarding this matter. They will not, however, be eligible to receive benefits of the Settlement Agreement.
To exclude themselves, Class Members must notify the Genworth long-term care class action settlement administrator by Dec. 28, 2021.
Finally, Class Members have the right to object to the settlement by Dec. 28, 2021.
A final hearing in the Genworth Life long-term care settlement is scheduled to take place Feb. 9, 2022.
No claim form is required.
Who’s Eligible
Class Members include all policyholders who own a PCS I or PCS II long-term care insurance policy or state variations of those same policies anywhere throughout the United States.
Potential Award
Varies
Class Members will receive a letter regarding the settlement benefits.
Proof of Purchase
No proof of purchase necessary.
Claim Form
No claim form is required.
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Object/Exclude Deadline
12/28/2021
Case Name
Halcom, et al. v. Genworth Life Insurance Co., et al., Case No. 3:21-cv-00019-REP, U.S. District Court for the Eastern District of Virginia for the Richmond Division
Final Hearing
02/09/2022
Settlement Website
Claims Administrator
Halcom v. Genworth
Settlement Administrator
P.O. Box 5749
Portland, OR 97228-5749
800-664-4267
Class Counsel
Brian D. Penny
GOLDMAN SCARLATO & PENNY PC
Stuart A. Davidson
ROBBINS GELLER RUDMAN & DOWD LLP
Glen L. Abramson
BERGER MONTAGUE PC
Jonathan M. Petty
PHELAN PETTY PC
Defense Counsel
Michael Duvall
DENTONS US LLP
Brian Pumphrey
MCGUIREWOODS LLP
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61 thoughts onGenworth Life Long-Term Care Insurance Class Action Settlement
I do not find the PCS 1-2, on our policys. They start with three letters and followed by 7 numbers.
Where is the designation PCS located in the policy paper work. Mine all begin with UCG
leave me in the settlement
We took out the LTC insurance in June 14, 2000. As time went on the premiums were increasing to the point were we could not afford the premiums. In July of 2019 Genworth offered us some choices to change the coverage, we chose “Limited Benefit option election” its value is at $33,233.59. The daily Payment Maximum available in the event we need to file a claim is $123.50.
Question. 1-Does the law suit settlement effect “lose” what I have vested so far?
2-How do I benefit from the settlement?
I do appreciate your prompt reply by email or a phone call.
Regards
Joseph Nassar
My wife and I purchased a LTC policy from Genworth in 1999 in Vermont. My certificate number has 3 letters and seven numbers on it. How can I determine if it is a PCS 1 or a PCS ll? No where in my policy do I see the three letters PCS. Also, we do not see any of the Policy/Certificate numbers listed on our policy [7000, 7020, 7030,7031AY, 7032]. We believe our policy qualifies for the settlement after reading the information sheet that was sent to us. More clarification is needed.
My policy does not any of the codes as indicated in Genworth notification. I guess Im assuming that since I got the notice my policy is covered. Please confirm.
My policy number starts with 3 letters and has no combo of the codes listed on the notice. Any way to receive a list of policy/certificate prefixes pertinent to this action?
1. I froze genworth daily payout (200 dollars) and thus modiefied the policy – even with freeze on payout genworth kept raising rates. Does the freeze on payout preclude any benefit from class action suit? 2. it is unclear what owners of the policies will win?? I have repeatedly written to genworth and received boiler plate back; I have made so many contacts with Georgia Insurance Commission they will not answer — the Commissioner is going to jail! My feeling is the intent of the law was to give Genworth some flexibility with rates so they would not go bankrupt. Genworth has abused the loophole in the law with the help of corrupt politicians. We had contract and Genworth broke the contract, most likely with every policy holder. The only way the business now survives is to soak the old policy holders as executives raise their salaries. Does this class action address any of the grievous injustices mentioned above?
My certificate number has 3 letters and seven numbers on it. How can I determine if it is a PCS 1 or a PCS ll?
I have owned 2 Genworth Long Term Care certificates since 2000 issued in New Jersey. I cannot find any numbers on either the policy or payments pages (and correspondence) that appear to resemble the codes listed in the Notice letter of October 2021. MY documents do not contain any PCS I or PCS II or policy/certificate form. IS there a translation sheet that I should be using.
I have owned a Genworth Long Term
Care policy since 2000 issued in
Connecticut. Like Mr. Bowers I can find no numbers resembling codes sent in info packet and wonder how to find if
my policy qualifies to be in settlement.
please add me. I have read and do Quality. thank you so much
inciude me in lawsuit
please please.
add me . I qualify thanks, kelli Bice
You are just commenting on an article. It does not add you to anything. You have to follow the instructions on the notice.
So one can assume if you received the notice you are included in the lawsuit, and need not do anything to continue participating? I could not get anyone on the phone.