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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.Â
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.Â
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.Â
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
When I originally purchased my policy from General Electric which sold to Genworth my premium was $900 p/yr. My motivation was having no siblings and no children, I knew I would need assistance in the aging process. I have not missed a single premium but most recently on Sept 10th my annual cost is $2,833.69. It appears I’ve been punished for being reliable? Please include me in the Law Suit.
My husband and I bought policies in 1995 (1996?) The premiums were affordable, and the coverage was excellent at that time. We are now having to pay around $550/month, which is so steep that we are barely holding on. Since I have Parkinson’s, we are unwilling to let go of our current/original policies. We received an offer of around $10 K to lower our benefits to far less than we’ve been paying for. We are not willing to do so. However, with the threat that our premiums may increase by two or even three-fold, we don’t know what to do. I searched to see what kind of financial situation Genworth is in, and it’s not looking very good. I am hoping that you can guide us. Our policies are: UDG 4455385 and UDG 4455386.
My wife and I have been policy holders since around 1997 and am confused as to if we qualify to be in the suit. Please response and advise. Our policies start with UCG and seven numbers. Please respond
I also assume since my wife and I received the notice letter that we are eligible. Include us in the settlement.
I agree with all the above comments…why send us a letter when we cant dtermine whether we qualify as a PS1 orPS2 ? Our policy was frozen at $38000 because we could no longer afford premiums.
Pay out would be $202 per day max. until funds were exhausted.
Genworth has our money and pays no interest. What would settlement be? Reinstatement at a lower premium ? We thoght the policy would provide funding for homecare…..how do we qualify…? Please advise
Please advise me the best route to take considering the Genworth Law Suit.
How do I determine whether I Have a PS1 orPS2 POLICY
I was told by customer svc. after a long wait to go to this website .???? Cust. service was no help
I don’t understand the law suit. I don’t know whether to exclude my plan or leave it in the law suit.
Please reply.
i want to known i am included in this action policy #ucg1009343
My policy number is UCG4181653. I do not understand the listing in your letter for North Carolina – 7000A, 7001A, 7020J.
Please include me in the settlement. Thank you.
Is the $13,156.82 settlement from Genworth taxable ?
Add me