Genworth Suspends Sales of TLCA
As Genworth looks to 2011 and beyond, we, like many companies, are making choices about where to make investments for growth, and more specifically, where to allocate capital. After a thoughtful assessment, Genworth has decided to refine our product offerings and will suspend sales for our Total Living Coverage® Annuity in all available states, with the exception of South Dakota which is pending approval. Effective February 7, 2011 the Genworth Financial companies will no longer accept new applications for its Total Living Coverage® Annuity.
Existing contract holders will experience no change – the terms and conditions of existing contracts will not change. Contract holders will continue to receive annual policy statements from Genworth Life Insurance Company. Sales of Total Living Coverage (our combined Life and Long Term Care insurance product) are not impacted by this change and will continue.
