Genworth's New CapMax(SM) Interest Crediting Strategy Helps Enhance Growth
Potential of SecureLiving® Fixed Index Annuities
Unique methodology can outperform other existing index crediting strategies
during consecutive years of S&P 500® Index growth
RICHMOND, Va., Dec. 3, 2012
RICHMOND, Va., Dec. 3, 2012 /PRNewswire/ --For consumers planning for
retirement in today's low interest rate environment, Genworth has launched a
unique, patent-pending interest crediting methodology, called CapMax(SM), that
is available exclusively on Genworth's SecureLiving^® Index Annuities. CapMax
^ is designed to take advantage of periods of positive momentum in the S&P 500
Index to create the opportunity for greater growth potential to Genworth
SecureLiving Index annuity contract owners.
Instead of locking in gains after just one year, CapMax allows owners of
SecureLiving Index Annuities to roll forward a portion of their current year's
interest credit in exchange for the opportunity to multiply next year's growth
potential with the CapMax Multiplier by as much as three times.
"With the Federal Reserve saying it plans to keep interest rates very low for
at least the next two and half years, those seeking reliable, sustainable
sources of retirement income – and the financial professionals who serve them
– are facing a challenging environment," said Paul Haley, SVP and Annuity
leader at Genworth. "Our CapMax index crediting strategy has the potential to
outperform other existing index crediting strategies when the S&P 500 Index
delivers consecutive years of growth, giving financial professionals a
powerful tool to help put clients back on the path to growth."
As a fixed annuity, the contract value is protected against downturns in the
S&P 500 Index.
About Genworth Financial
Genworth Financial, Inc. (NYSE:GNW) is a leading Fortune 500 insurance holding
company dedicated to helping people secure their financial lives, families and
futures. Genworth has leadership positions in offerings that assist consumers
in protecting themselves, investing for the future and planning for retirement
-- including life insurance, long term care insurance, financial protection
coverages, and independent advisor-based wealth management -- and mortgage
insurance that helps consumers achieve home ownership while assisting lenders
in managing their risk and capital.
Genworth has approximately 6,300 employees and operates through three
divisions: Insurance and Wealth Management, which includes U.S. Life
Insurance, Wealth Management and International Protection segments; Global
Mortgage Insurance, which includes U.S. and International Mortgage Insurance
segments; and the Corporate and Runoff division. Its products and services are
offered through financial intermediaries, advisors, independent distributors
and sales specialists. Genworth Financial, Inc., which traces its roots back
to 1871, became a public company in 2004 and is headquartered in Richmond,
Virginia. For more information, visit genworth.com. From time to time,
Genworth Financial, Inc. releases important information via postings on its
corporate website. Accordingly, investors and other interested parties are
encouraged to enroll to receive automatic email alerts and Really Simple
Syndication (RSS) feeds regarding new postings. Enrollment information is
found under the "Investors" section of genworth.com.
SecureLiving^® Index Annuities individual single premium fixed deferred
annuity with market value adjustment and optional indexed interest crediting
issued by Genworth Life and Annuity Insurance Company, policy form series
GA3003 0711, GA3004-0711, ICC11GA3001, ICC11GA3002, GA302R-0612, ICC12GA302R
et. Al. Products and/or riders may not be available in all states or
markets. Features and benefits may also vary by state or market. Genworth
Life and Annuity Insurance Company is licensed in all states except New York.
All guarantees are based on the claims-paying ability of Genworth Life and
Withdrawals/surrenders have the effect of reducing the contract value and
death benefit. Withdrawals may be taxable and a 10% federal penalty may apply
to withdrawals taken before age 59½.
"S&P 500^®" is a trademark of Standard & Poor's Financial Services LLC
("Standard & Poor's") and has been licensed for used by Genworth Life and
Annuity Insurance Company. This Product is not sponsored, endorsed, sold or
promoted by Standard & Poor's and Standard & Poor's makes no representation
regarding the advisability of purchasing the Product. The S&P 500^® Index is
a price index and does not reflect dividends paid on the underlying stocks.
Although the contract value may be affected by the performance of an index,
the contract does not directly or indirectly participate in any stock or
equity investment, including but not limited to, any dividend payment
attributable to any such stock or equity investment.
CapMax(SM) ^ Patent Pending
This is a product summary. Please refer to the contract for a complete and
detailed explanation of benefits, limitations and restrictions.
SOURCE Genworth Financial, Inc.
Contact: Julie Westermann, +1-804-662-2423, firstname.lastname@example.org
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