Genworth Financial Focusing on Hispanics in South Texas

Genworth Financial Inc. announced it is launching a comprehensive campaign for the Hispanic communities in Corpus Christi and Rio Grande Valley designed to increase awareness about the importance of having a financial ‘”safety net” – life insurance – as part of a sound family financial plan.

To serve the needs of Corpus Christi’s community, Genworth has teamed up with Brown & Brown Associates, an independent brokerage firm and distributor of insurance products.

“Our association with Brown & Brown will help close the financial protection gap for Hispanics in Corpus Christi and Rio Grande Valley,” said Javier Ismodes, vice president of emerging markets for Genworth Financial. “This initiative supports Genworth’s ongoing commitment to educate and serve the financial needs of Hispanics in the U.S.”

The campaign reaches the community through grassroots outreach programs like Chambers of Commerce sponsorships and community event marketing, a testimonial television campaign and educational financial seminars. Additionally, Brown & Brown licensed sales associates will promote the flexible financial protection strategies provided by term life insurance as well as other financial products.

“We are passionate about catering to the Hispanic market in Corpus Christi and Rio Grande Valley by offering tools that help them understand the importance of life insurance in protecting their families,” said Cindy Gentry, president of Brown & Brown Associates. “We are confident that, through our relationship with Genworth, we will be able to better serve the needs of the diverse Hispanic community.”

According to the 2005 “Hispanic Term Life Insurance Market Study” conducted by the Life Insurance Marketing and Research Association on behalf of Genworth Financial, the Hispanic market has broad misconceptions about the costs, needs and benefits of term life insurance. The study also indicates that understanding the price of life insurance is the most important piece of information Hispanic consumers need to help them decide on what to purchase.

According to the study, many Hispanic consumers think life insurance is an unaffordable luxury reserved for the rich and would be surprised to learn just how affordable term life insurance can be. Of those surveyed, many believed term life insurance, depending on a person’s age and health, costs two, three or four times more than it really did.

Among the many aspects of Genworth’s Hispanic initiative in Corpus Christi and Rio Grande Valley, the company will continue providing free, objective and relevant financial information through its financial education Web site, www.midinero.com.

Topics Texas