Genworth Launches Star Studded "Let’s Talk Now" Video To Educate America on the Need for Long Term Care Planning
Featuring Angela Bassett, Jim Nantz, Maggie Gyllenhaal, Maria Shriver, Rob Lowe, and Zachary Quinto
The new video features some of America’s most beloved and recognizable faces as they educate men and women across the country on the importance of long term care planning and the need to have “the talk” now versus later.
- More than 90 percent of American adults don’t have long term care insurance1
- Ten thousand Baby Boomers will turn 65 every day between now and 20302
- The Department of Health and Human Services projects the population older than 85 will more than double by 20403
- On average, a year of long term care costs between $16,000 (adult day health care) and $87,000 (a private room in a nursing home)4
Angela Bassett, Jim Nantz, Maggie Gyllenhaal, Maria Shriver, Rob Lowe, and Zachary Quinto bring these facts to life within the video by highlighting their own caregiving stories to shed light on how the need for long term care affects everyone, not only those fortunate enough to live a long life, but also younger generations that assume the often overwhelming responsibilities associated with caregiving. In addition, Genworth is continuing its partnership with MariaShriver.com as video host for “Let’s Talk Now.”
“We are excited to collaborate with such a talented and well-respected group of celebrities to remind families across the country that it’s never too early to talk about long term care planning,” says Tom McInerney, Genworth’s President and CEO. “Through this video, we hope that the compelling words from Angela, Jim, Maggie, Maria, Rob and Zachary will encourage Americans to take the initiative to have ‘the talk’ and put a long term care plan in place.”
“We all know aging is going to happen, but we don’t know when or how it will affect us,” says Angela Bassett. “As a caregiver to both my mother and my mother-in-law, Genworth’s mission is deeply important to me and I’m proud to support the company in helping families plan for the future.”
“My father’s experience with Alzheimer’s taught me to think ahead as well as motivated me to help educate Americans on the financial, physical and emotional relief long term care planning can bring to families,” says Jim Nantz. “Starting conversations about aging now can bring peace of mind for you, and most importantly, for loved ones.”
“Even though it’s difficult for many people to think about themselves or their parents getting older, these are still important conversations to have,” says Maggie Gyllenhaal. “We can’t predict how we’ll age, but I’m pleased my voice will help raise awareness around how people can prepare for it with long term care planning.”
“Like most people, I was surprised to learn that Medicare, the Affordable Care Act and most health insurance policies do not cover long term care,” says Zachary Quinto. “I am happy to join forces with Genworth to show how a short conversation with loved ones can ultimately go a long way in helping them secure the lifestyles they have earned and deserve.”
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company committed to helping families become more financially secure, self-reliant and prepared for the future. Genworth has leadership positions in long term care insurance and mortgage insurance and competitive offerings in life insurance and fixed annuities that assist consumers in solving their insurance, retirement and home ownership needs.
Genworth operates through three divisions: U.S. Life Insurance, which includes long term care insurance, life insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other Division, which includes the International Protection and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth, headquartered in Richmond, Virginia, traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com. From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the “Investors” section of genworth.com. From time to time, Genworth's publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at https://genworth.ca and https://www.genworth.com.au.
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1 Long-Term Care: What Are the Issues, Robert Wood Johnson Foundation, February, 2014
2 416.67 per hour. 6.94 per minute. See also: https://www.thescanfoundation.org/sites/thescanfoundation.org/files/us_growing_demand_for_ltc_june_2012_fs.pdf
3 “The 85+ population is projected to triple from 5.7 million in 2011 to 14.1 million in 2040.” https://www.aoa.gov/Aging_Statistics/Profile/2012/docs/2012profile.pdf See also: https://www.longtermcareinsurance.org/
4 According to Genworth’s 2014 Cost of Care Survey (https://www.genworth.com/dam/Americas/US/PDFs/Consumer/corporate/130568_032514_CostofCare_FINAL_nonsecure.pdf), the median annual rate of adult day health care is $16,900 and the median annual cost of a private room in a nursing home is $87,600.