CareScout Launches Care Assurance, First Insurance Solution for Company

Inaugural long-term care insurance product will help families plan, find, and fund care with confidence

RICHMOND, Va.--(BUSINESS WIRE)--CareScout today announced the launch of CareScout Care Assurance, its insurance company’s first long-term care (LTC) insurance solution. This represents a milestone in CareScout’s mission to simplify and dignify the aging journey and signals the start of a broader portfolio of funding solutions and services designed to support families.

“The launch of CareScout Care Assurance is more than the introduction of a product, it’s the beginning of a new chapter for CareScout, as we provide curated experiences for our long-term care insurance policyholders based on their needs and preferences,” said Lynn White, CEO of CareScout Insurance Company. “This is our first insurance solution, and it represents our commitment to enabling a better aging journey – one that is thoughtful, dignified, and personalized at every step.”

CareScout Care Assurance, issued by CareScout Insurance Company, combines financial protection for long-term care expenses with access to an ecosystem of services and resources, including the CareScout Quality Network, a nationwide network of aging care providers vetted for quality standards who also offer preferred pricing. Combining coverage and individualized service offerings, including wellness programs and access to trusted care providers, CareScout is creating a more holistic approach to long-term care.

Product Highlights
CareScout Care Assurance provides straightforward coverage with flexibility for today’s families:

• Eligibility: Available to individuals ages 40-65
• Benefit flexibility: Total LTC benefit options between $50,000 and $250,000, with daily benefit maximums from $50 to $200 (subject to state minimum benefit requirements)
• Inflation protection: Compound inflation options of 1%, 3%, and 5%
• Family-friendly pricing: Couples’ rates and lower rates for healthier applicants

“With CareScout Care Assurance, individuals can choose the level of protection they prefer, access helpful resources as they age, and leverage a trusted network of providers when care is needed,” White added. “The product was designed to be simple, flexible, and to support the needs of policyholders and their families.”

Digital Experience
CareScout Care Assurance is fully digital from application to delivery, streamlining the process for both customers and financial professionals. Policyholders also benefit from caregiver support resources, customer service, and access to planning tools across the broader CareScout platform.

Foundation for What’s Ahead
This launch also establishes the foundation for future offerings. Upcoming products will continue to expand CareScout’s integrated ecosystem, providing families with solutions to plan, find, and fund care with greater confidence and transparency.

About CareScout
CareScout helps older adults and their families navigate the aging journey, find, and fund quality care. Inspired by a mission to simplify and dignify the aging experience, we're building an integrated ecosystem of care and funding solutions. To learn more about CareScout, visit www.CareScout.com. CareScout is a wholly owned subsidiary of Genworth Financial, Inc. (NYSE: GNW). CareScout is the marketing name for CareScout Holdings, Inc., its affiliates and entities. Affiliates and entities are solely and separately responsible for their own financial and contractual obligations.

CareScout Insurance Company has entered into an agreement with a reinsurance company that has an overall financial strength rating of A+ as rated by A.M. Best as of 1/25/2025. The reinsurer will not have direct obligations to policyholders under the agreement, and the reinsurance may be modified or terminated in the future.

Cautionary Note Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for future business and financial performance, and new lines of business, including long-term care insurance, and other future products and services Genworth Financial, Inc. (Genworth) is pursuing with CareScout. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory, and other factors and risks, as well as risks discussed in the risk factor section of Genworth’s Annual Report on Form 10-K, filed with the United States Securities and Exchange Commission on February 28, 2025. Genworth undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.