Genworth Life Long-Term Care Insurance Class Action Settlement

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

PCSLongTermCareinsuranceSettlement.com

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