Genworth Financial has introduced My Future, My Plan, a suite of long-term care insurance plans created for AARP members, designed to simplify the process of purchasing affordable long term care insurance.

The company said that the new plans allow AARP members to access industry-leading features while maintaining the ability to customize a plan that falls within their price range, meeting their lifestyle needs. The members can choose one of three preselected long term care insurance plans, tailored to them to reflect membership demographics.

According to Genworth, all plans include the option of home care, assisted living and nursing home services along with flexible features and a no-cost access to the company’s privileged care coordinators who assist policyholders and their families in planning for their long term care.

Buck Stinson, president of insurance products at Genworth Financial, said: Two-thirds of people over age 65 will need long term care in their lifetimes. The current economic downturn has depleted the nest eggs of many Washington residents, making it more important than ever to plan ahead for future long term care costs.