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In addition to an affordable, generally income-tax free death benefit at competitive premiums, Foundation Builder Index UL offers:
- Five index interest crediting strategies linked to the percentage change in the S&P 500® Index to help build cash value for future flexibility. Policyowners benefit from interest credits up to a cap and have a guaranteed floor of 0%, meaning that even if the percentage change in the S&P 500® Index is negative, policyowners are guaranteed not to lose money solely on the percentage change in the S&P 500® Index. If the policyowner's needs change in the future, any cash value built can be used to provide the policyowner with additional financial flexibility.
- An optional Accelerated Benefit Rider for Long Term Care Services, drawing upon
Genworth's40-years of experience and leadership as the nation's largest long term care insurance carrier.1 The rider, available at an additional cost, combined with index universal life insurance coverage, creates reliable death benefit protection while offering access to the specified amount for covered long term care expenses. The rider includes at-home coverage with no waiting period as well as coverage for informal caregivers. If the policyholder does not need to use the rider or only uses a portion of the specified amount for covered long term care expenses, then the remaining portion of the specified amount will be paid as a death benefit.
"We are pleased to expand our portfolio of index universal life insurance products with a product that offers some of the most competitive premiums as well as an optional rider that can provide long term care coverage from the industry leader2," said
"With low-interest rates jeopardizing the performance expected from traditional fixed life insurance products, index UL insurance meets the needs of consumers who are seeking solid alternatives with limited risk," he said.
As a result of persistently low interest rates, index UL policies are experiencing record-breaking sales, growing from a
Foundation Builder Index UL is
Industry-leading customer service and technology from
As part of its commitment to continually raise the bar on technology and customer service,
To help financial professionals meet the soaring demand for index UL and ensure that they have the information and tools to help educate their clients about index products, including fixed index annuities,
Resources for Consumers from
Consumers can learn about different types of life insurance and access calculators to help determine how much life insurance they may need by visiting
For additional information on the entire line of
The S&P 500 index is a product of
Foundation Builder Index UL is a flexible-premium, adjustable life insurance policy (commonly known as universal life insurance) with optional index interest crediting. The product, riders, and benefits are subject to the terms and conditions of its policy forms and to state availability and issue limitations.
Genworth Life & Annuity: Policy Form No. ICC13GA1006, ICC13GA1007, GA1006-0413 et al., or GA1007-0413 et al. Rider Form Nos. ICC12GA108R or GA108R-
ICC12GL108R or GL108R-
A death benefit is income tax-free (a) unless the policy has been transferred for a valuable consideration by assignment or otherwise, the basis for determining gain or loss in the hands of the transferee is determined in whole or part by reference to such basis in the hands of the transferor, and the transfer is to not to the insured, a partner of the insured, a partnership in which the insured is a partner, or a corporation in which the insured is a shareholder and/or officer and (b) in the case of a life insurance policy that is an employer-owned life insurance contract as that term is defined in section 101(j) of the Internal Revenue Code of 1986, as amended, if the requirements of section 101(j) with respect to such contracts are met.
Although the policy value may be affected by the performance of an index, the policy is not a security and does not directly or indirectly participate in any stock, equity or similar investment including, but not limited to, any dividend payments attributable to any such investment. The index does not include dividends paid on the underlying stocks, and therefore do not reflect the total return of the underlying stocks.
Policy, benefits and riders may not be available in all states. Terms and conditions may vary by state.
Refer to the policy for definitions and more details regarding coverage and its features. This press release provides a summary of coverage. Policy terms and provisions will prevail.
All guarantees are based on the claims-paying ability of the issuing insurance company.
1 LIMRA 2012
2 LIMRA 2012
3 LIMRA's U.S. Individual Life Insurance Sales Summary Report, Fourth Quarter 2012
4 LIMRA'S U.S. Individual Life Insurance Sales Summary Report, Third Quarter 2013
5 DALBAR news release, "Genworth Earns DALBAR Life & Long Term Care Insurance Service Awards,"