Genworth Launches The Index Institute(SM), a Virtual Learning Community to
Help Producers Tap Into the Soaring Demand for Index Insurance Products
RICHMOND, Va., June 26, 2013
RICHMOND, Va., June 26, 2013 /PRNewswire/ -- In response to producers' demand
for better resources to help them educate their clients about the benefits of
index products, Genworth has launched The Index Institute^SM, a
first-of-its-kind virtual community for producers. The Index Institute
contains index life insurance and index annuity training, market insights,
presentations, product information and cutting-edge sales ideas.
"During extensive research with producers, they told us they needed resources
to more easily help them bring the benefits of index products to their
clients," said Pat Foley, president, U.S. Life Distribution & Marketing at
Genworth. "We responded by developing an easy-to-use portal that pulls
together a host of rich content, ranging from the basics of index products to
powerful sales materials that will help them tap into the growing popularity
of these products."
Index Universal Life (Index UL) insurance has grown from a $330 million market
in 2006 to a $1.5 billion market in 2012.^1 Sales soared 42 percent in Q4 and
improved 36 percent for the year,^2 representing 30 percent of total UL
premiums and 12 percent of all individual life insurance premiums.^3
Similarly, Fixed Index Annuities (FIAs) are experiencing a surge in
popularity. FIAs have turned in five consecutive record-breaking years of
growth, finishing 2012 with $33.9 billion in sales.^4 FIAs represented 47
percent of total annuities sold in 2012.5
Charlie Gipple, national director of Index Products at Genworth, added: "Our
goal with this new online community is to provide the education, tools and
support necessary to help producers -- whether they're just starting to learn
about index products or proven pros -- better counsel their clients on the
role index products can play in helping them achieve their financial goals."
Genworth recently introduced a new index universal life insurance product,
Asset Builder Index UL, to help meet customer demand for a flexible life
insurance solution that offers a death benefit, cash accumulation and an
optional Accelerated Benefit Rider for Long Term Care Services (ABR). The
ABR, which is available at an additional cost, allows the policyowner to
access the death benefit to pay for covered long term care services.
Genworth also offers fixed index annuities, including its SecureLiving^® Index
5, Index 7 and Index 10 Plus products, that offer contract owners greater
growth potential with the patent pending CapMax interest crediting option,
competitive rates, and the opportunity to prepare for the unpredictable while
planning for or during retirement.
Consumers can learn more about annuities and how they can help achieve their
retirement goals at: https://www.genworth.com/products/annuity.html#tab1-tab.
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 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 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, visitgenworth.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 ofgenworth.com.
^1-3 LIMRA, U.S. Individual Life Insurance sales, Fourth quarter 2012
^4-5 "Annuity Industry Estimates" YTD 2012, LIMRA
Asset Builder Index UL is underwritten by Genworth Life and Annuity Insurance
Company and Genworth Life Insurance Company, Richmond, VA.
SOURCE Genworth Financial, Inc.
Contact: Genworth, Julie Westermann, 804-662-2423,
email@example.com or Prosek Partners, Julia Ehrenfeld,
212-279-3115 ext. 223, firstname.lastname@example.org
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