Immediate Need Annuity Distribution Strategy Change
As we enter 2019, we are continuing our efforts in developing a market for the Income Assurance Immediate Need Annuity (INA) product. INA is a medically underwritten single premium immediate annuity issued by Genworth Life Insurance Company (Genworth Life.) We believe there is significant opportunity for professionals like yourself to work with their existing clients and their families and/or to partner with care communities to assist in the financing of care, or for other purposes, with a potentially higher guaranteed income than other annuity products.

As we move forward, we are going to deploy a different distribution strategy. Beginning December 3, 2018, we will only offer INA as a producer direct opportunity, specifically meaning any producer wanting to offer INA to their clients will need to be contracted directly with Genworth Life. We are making this change to offer producers a higher commission rate of 5% to sell this product.

Any business submitted prior to November 30, 2018 under your Brokerage General Agent (BGA) hierarchy will be attributed to that structure. After this date, you will need to have a direct relationship with Genworth Life and continue to be supported by our INA internal sales team. This change only affects sales of the INA product. If you sell our individual or group long term care insurance products, it does not affect your BGA relationships for those products.

Given the duration and complexity of the sales process, we believe this change will help drive additional opportunities for producers working with clients as they look for income solutions to assist in the financing of aging.

Please call our INA sales team at 888.260.0262 to learn more. Thank you in advance for your understanding and support.

Shawn Davis
Head of Individual Sales
US Life Insurance Companies
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300101  11/15/18