RICHMOND, Va., April 30 – Genworth Financial has launched Cornerstone Advantage, its newest addition to its portfolio of long-term care planning solutions.

According to the company, Cornerstone Advantage is designed to reduce the premium costs of long-term care coverage and to utilize common insurance concepts like co-pay and dollar deductibles to make the coverage easier to understand.

With Cornerstone Advantage, Genworth said, coverage is available for care at home, in an assisted living facility, or in a nursing home. Discounts up to 50 percent are available for couples who submit two valid applications, even if one of the policies is not issued. Genworth noted that shared coverage is designed to provide survivorship and guaranteed minimum benefits. Furthermore, the company said, the product has a built-in return of premium feature, which adds value for those consumers who are concerned about paying for insurance that may not be used.

Genworth said that it will launch Cornerstone Advantage in 20 states initially and expects to have the product available nationwide by early fourth quarter.

For more information, call 888-GENWORTH or visit longtermcare.genworth.com.