Genworth Launches Its First Index Universal Life Insurance Product

      Genworth Launches Its First Index Universal Life Insurance Product

New Offering Combines Protection, Income and Optional Accelerated Benefit
Rider for Long Term Care Services

PR Newswire

RICHMOND, Va., June 3, 2013

RICHMOND, Va., June 3, 2013 /PRNewswire/ --Genworth today announced the
launch of its first Index Universal Life (IUL) insurance product, which
combines a death benefit with tax-deferred cash accumulation and an optional
Accelerated Benefit Rider for Long Term Care Services.

Genworth developed its new Asset Builder IUL in response to consumers' demand
for life insurance that is flexible enough to meet multiple needs in a single
product. It also addresses consumers' desire for more growth potential than is
currently available with traditional fixed life insurance products and less
risk than variable universal life insurance.

The result was an index UL insurance product that combines a death benefit for
beneficiaries with:

  oThe opportunity for greater policy value growth by linking the crediting
    strategy with the S&P 500^® Index.
  oProtection from market downside: Even if the percentage change in the S&P
    500^® Index is negative, the minimum crediting rate is 0%. Monthly
    charges and fees will continue regardless of the crediting rate and will
    reduce policy value.
  oSupplemental income for retirement: If the policy generates sufficient
    cash values later in life, policyowners can take withdrawals and policy
    loans to supplement their income.
  oOptional Accelerated Benefit Rider for Long Term Care Services, available
    at an additional cost.

"With low-interest rates jeopardizing the performance expected from
traditional fixed life insurance products, consumers are seeking solid
alternatives with limited risk," said Patrick Kelleher, executive vice
president and leader of Genworth's U.S. Life Insurance Division. "Genworth's
Asset Builder Index UL provides all of this and more, including benefits that
policyowners can use during their lifetimes."

As a result of persistently low interest rates, index UL policies are
experiencing record-breaking sales, growing from a $300 million market in 2006
to a $1.54 billion market in 2012.(1) Index UL policies now represent 30
percent of total UL premiums and 12 percent of all individual life insurance

To help financial professionals meet this soaring demand and ensure that they
have the information and tools to help educate their clients about index
products, including fixed index annuities, Genworth has also launched The
Index Institute(SM). This industry-first virtual resource offers financial
professionals the education, tools and support they need to better counsel
their clients on how index products work and the role they can play in helping
them fulfill their insurance needs and financial objectives.

As part of its commitment to continually raise the bar on service and
technology, Genworth's new product leverages the latest advances in technology
to make the seemingly complex process of applying for life insurance much
faster and easier for both financial professionals and policyowners.

"As we were preparing to enter the index universal life insurance market, we
invested time and conducted research with our distribution partners. We used
the insights we gained to design a product that is easier to sell and quicker
to close, with an easy-to-follow illustration system, clearer marketing
materials and compatibility with our existing ePolicy Delivery and Life Quick
Request(SM) ^ platforms," Kelleher added.

Asset Builder Index UL is the only index UL product in the industry available
on a comprehensive front-to-back electronic platform that features electronic
ticket drop, fulfillment and policy delivery, which significantly shortens the
application and fulfillment cycle.

Asset Builder Index UL and other life insurance products are underwritten by
Genworth Life and Annuity Insurance Company and Genworth Life Insurance
Company, Richmond, VA. Products not available in all states and markets.

About Genworth

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 companies have 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 5,850 employees and operates through three
divisions: U.S. Life Insurance, which includes life insurance, long term care
insurance and fixed annuities; Global Mortgage Insurance, containing U.S.
Mortgage Insurance and International Mortgage Insurance segments; and the
Corporate and Other division, which includes the International Protection and
Runoff segments and the wealth management business presented as discontinued
operations. Products and services are offered through financial
intermediaries, advisors, independent distributors and sales specialists.
Genworth Financial, Inc., headquartered in Richmond, Virginia, traces its
roots back to 1871 and became a public company in 2004. For more information, 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

(1,2) LIMRA, U.S. Individual Life Insurance Sales, Q4 2012

S&P 500® Index

The S&P 500® Index is a product of S&P Dow Jones Indices LLC ("SPDJI") and has
been licensed for use by Genworth Life and Annuity Insurance Company and
Genworth Life Insurance Company hereinafter referred to as "Licensee".
Standard & Poor's^®, S&P^®, and S&P 500^® are registered trademarks of
Standard & Poor's Financial Services LLC ("S&P") and these trademarks have
been licensed for use by SPDJI and sublicensed for certain purposes by
Licensee. Licensee Index Universal Life Product(s) are not sponsored,
endorsed, sold or promoted by SPDJI, S&P, or their respective affiliates, and
none of such parties make any representation regarding the advisability of
investing in such product(s) nor do they have any liability for any errors,
omissions, or interruptions of the S&P 500® Index.

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. Market indices do not
include dividends paid on the underlying stocks, and therefore do not reflect
the total return of the underlying stocks.

Asset Builder Index UL is flexible premium adjustable life insurance (commonly
called universal life insurance) with optional index interest crediting. The
Asset Builder Index UL 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. ICC12GA1004,
ICC12GA1005, GA1004-1012 et al., or GA1005-1012 et al. Rider Form Nos.
ICC12GA108R or GA108R-1012 et al.; ICC12GA109R or GA109R-1212 et al;
ICC12GA111R or GA111R-1012 et al.; ONE-ADB et al.; ONE-CIR-100 et al.;
ONE-WP-TL et al. Genworth Life: Policy Form No. ICC12GL1004, ICC12GL1005,
GL1004-1012 et al., or GL1005-1012 et al. Rider Form Nos. ICC12GL108R or
GL108R-1012 et al.; ICC12GL109R or GL109R-1212 et al; ICC12GL111R or
GL111R-1012 et al.; GE-ONE-ADB et al.; GE-ONE-CIR-100 et al.; GE-ONE-WP-TL et
al. Policy, benefits and riders may not be available in all states. Terms and
conditions may vary by state.

All guarantees are based on the claims-paying ability of the issuing insurance

SOURCE Genworth Financial

Contact: Genworth, Julie Westermann, 804-662-2423,
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