Effective June 1, 2015 Genworth Life Insurance Company (Genworth Life) will launch the new Total Living Coverage® (TLC) product in Connecticut and Florida in order to continue to gain nationwide adoption of the most recent TLC product. TLC is a linked benefits life insurance product that combines the features and benefits of both universal life and long term care (LTC) insurance.
• Lifetime Return of Premium Rider (ROP) benefit available after policy year three*
• Issue age based on age last birthday rather than age nearest birthday
• Uncapped Residual Death Benefit (RDB)
• ROP and Guaranteed Minimum Benefit Rider (GMBR) do not terminate on policy loan or withdrawal
• Caregiver Support Services for immediate family members
• International Coverage Benefits include out-of-country home care
• Current/Guaranteed interest rates: 3.60%/3.00%
• Simplified WinFlex illustration
• Ticket submission through TLC Quick Request system
• Premium expense charge will be 12% for each premium received
• A new field underwriting tool called eValuate™ that can help make a more precise assessment of a client’s underwriting category.
With this launch, the new TLC product will be available in all states except CA, HI and