Genworth Term Life Insurance Policy: Everything You Need to Know Before You Buy

When you’re searching for stability and affordability in life insurance, the Genworth Term Life Insurance Policy stands out as one of the most recognized names in the industry.

Although Genworth has evolved over the years and shifted its focus toward long-term care insurance, its legacy in term life coverage remains a benchmark for dependability, customer confidence, and financial peace of mind.

If you’re wondering what Genworth term life insurance was, how it worked, and where to find similar coverage today — this guide will give you everything you need to make an informed decision.

What Is a Genworth Term Life Insurance Policy?

A Genworth term life insurance policy provided affordable, temporary coverage designed to protect your loved ones for a set number of years — typically 10, 15, 20, or 30 years. The policy guaranteed a fixed death benefit and level premiums for the duration of the term.

It was an excellent choice for:

• Families wanting protection during child-raising years
• Homeowners securing coverage to match mortgage terms
• Individuals replacing lost income in the event of an unexpected death

Genworth built its reputation on financial strength, transparent underwriting, and accessible coverage options, making it a go-to insurer for middle-income families across the U.S.

A Brief History of Genworth’s Life Insurance Legacy

Genworth Financial was once one of the largest providers of term life and long-term care policies in America. In the early 2000s, the company offered several competitive term life products under Genworth Life and Annuity Insurance Company (GLAIC).

However, by the mid-2010s, Genworth shifted its business strategy and exited the new term life insurance market to focus on long-term care and mortgage insurance. While new Genworth term life policies are no longer being issued, many of the original policies are still active and serviced by Protective Life Insurance Company, which assumed administration of Genworth’s individual life and annuity business.

Who Currently Services Genworth Term Life Policies?

If you already own a Genworth term life insurance policy, your coverage is now managed by Protective Life Insurance Company.

Here’s what that means for policyholders:

• No change in your policy benefits or terms.
• Premiums remain the same as originally agreed.
• Claims and customer service are handled by Protective Life.

You can reach the customer service team or access your account directly on Protective.com, where existing Genworth policies continue to be supported with the same reliability and service standards.

Key Features: Genworth Term Life Insurance (When Active)

Although Genworth no longer sells new term life policies, their coverage model remains a great reference point for anyone shopping formodern term life insurance.

Here were the standout features:

1. Level Premiums – Locked-in rates that never increased during the policy term.
2. Flexible Term Options – Common terms of 10, 15, 20, and 30 years to fit family goals.
3. Guaranteed Death Benefit – A fixed payout amount that didn’t decrease over time.
4. Convertible Option – The ability to convert to a permanent life insurance policy before the term expired.
5. Strong Financial Backing – Genworth’s financial strength ratings provided peace of mind to policyholders.

These benefits made Genworth one of the most respected term life providers before its exit from new policy issuance.

What to Do If You Need New Coverage Today

If you’re exploring life insurance and were originally drawn to Genworth for its affordability and reliability, you’re not out of luck. Several insurers offer similar policies with comparable pricing and benefits — and in some cases, even more flexibility.

Top alternatives for those seeking coverage like the Genworth Term Life Insurance Policy include:

• Banner Life Insurance
• Protective Life Insurance
• Fidelity Life
• Pacific Life
• Legal & General America

These companies offer instant quotes, no medical exam options, and customizable term lengths that mirror what Genworth once provided.

How to Compare Today’s Term Life Insurance Quotes

When shopping for a replacement or new term life policy:

1. Compare quotes from multiple carriers. Rates vary based on age, health, and term length.
2. Review conversion options. Choose a policy that allows conversion to permanent coverage later.
3. Check financial strength ratings. A.M. Best and Moody’s ratings reflect an insurer’s ability to pay claims.
4. Ask about no-exam options. Many modern insurers let you skip the medical exam entirely.
5. Work with a licensed life insurance agent. They can help you find the best carrier for your specific needs.