Download Top Reasons to Sell Asset Builder Index UL II

Top Reasons to Sell
Asset Builder Index UL II
Easier to Sell. Quicker to Close.
To create Asset Builder Index UL II, we interviewed hundreds of index
universal life insurance sales and support professionals. We learned what
works best, and used these insights to build a competitive protection and
accumulation solution for consumers.
These consumers need more life insurance, and are concerned about saving
for retirement, funding college for their children and paying for long term care.
Asset Builder Index UL II is built to supplement their life insurance coverage
and – in later years – provide the potential for tax-free1 income. With Asset
Builder Index UL II, and your guidance, your clients can:
• Have an income-tax-free death benefit2 to help protect loved ones
Asset Builder Index UL II
• Gain tax-deferred cash accumulation with the interest crediting
rate linked to the S&P 500® Index
The Protection and Cash
Accumulation Solution
• Protect policy value from the risk of loss faced with investment in the stock
market; 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
Asset Builder Index UL II is a flexiblepremium, adjustable life insurance
policy (commonly known as universal
life insurance) with optional index
interest crediting. The product, riders,
and benefits are subject to the terms
and conditions of its policy forms
and to state availability and issue
limitations. Asset Builder Index UL II
is subject to Policy Form No.
ICC14GA1011, ICC14GA1012, GA1011-0914
et al., GA1012-0914 et al. Rider Form
Nos.
ICC12GA109R,
ICC14GA115R,
ICC14GA117R, ICC14GA130E, GA109R-1212
et al., GA115R-0414 et al., GA117R-0714
et al., GA130E-0914 et al., ONE-CIR-100
et al., ONE-WP-TL et al., ONE-ADB et al.
(Genworth Life & Annuity) or Policy Form
No. ICC14GL1011, ICC14GL1012, GL1011-0914
et al., GL1012-0914 et al. Rider Form Nos.
ICC12GL109R, ICC14GL115R, ICC14GL117R,
ICC14GL130E, GL109R-1212 et al.,
GL115R-0414 et al., GL117R-0714 et al.,
GL130E-0914 et al., GE-ONE-CIR-100 et
al., GE-ONE-WP-TL et al., GE-ONE-ADB
et al. (Genworth Life).
• Receive conditionally guaranteed additional interest beginning in policy
year 11 with the Interest Credit Enhancement Endorsement
• Access supplemental income later in life
• Choose an optional Accelerated Benefit Rider for Long Term Care
Services available only at issue and for an additional cost
Understanding what they are buying is key to your clients’ confidence and
readiness to move forward. Genworth makes Index UL insurance easier to
understand, explain and sell.
1. Go with the Benchmark – The S&P 500® Index
Four crediting strategies linked to the percentage change of the S&P 500®
Index, plus a fixed account option are available. The S&P 500® Index:
• Is well known and easily recognizable by consumers
• Consists of 500 large, leading companies from a variety of industries
• Is a benchmark for US stock market performance
Policy, benefits and riders may not be
available in all states. Terms and conditions
may vary by state.
• Makes past and current performance easy to find
Genworth’s competitive upside caps and 100%–150% current participation rate
(varies by crediting strategy) provide growth opportunity for your clients. Even
if the index’s percentage change is negative, the minimum crediting rate is 0%.
Monthly charges and fees continue regardless of the crediting rate and will
reduce the fixed account value.
Life insurance products underwritten by Genworth
All guarantees are based on the claimspaying ability of the issuing insurance
1,2
Please refer to the back page for footnotes.
Life and Annuity Insurance Company,
Genworth Life Insurance Company, Richmond, VA
For Producer/Agent Use Only. Not To Be Reproduced Or Shown To The Public.
154793 02/18/15
©2015 Genworth Financial, Inc. All rights reserved.
Page 1 of 3
Top Reasons to Sell Asset Builder Index UL II
2. Accelerated Benefit Rider for Long Term Care Services
We’re the long term care (LTC) industry leader3 with over 1.2 million policyholders and $10.4 billion paid
in LTC claims.4 Through this optional rider, clients can help protect their retirement from the impact of long
term care expenses. The rider:
• Provides coverage for permanent and temporary long term care events
• Features Privileged Care® Coordination Services and Care Support Services to help clients navigate
the complicated world of in-home and facility care
• Offers International Coverage for up to four years
• Is a federally tax-qualified LTC rider
3. Sell Confidently with Groundbreaking Illustrations
• Illustrations create a logical path to walk clients through their policy
• Easier-to-understand charts and graphs are informative and visually appealing, providing clients clarity
• You can effectively show clients how:
– The interest crediting cap works
– The floor protects your client when the index percentage change is negative
– The policy value and death benefit change over time
4. Boost Your Index IQ
• From policy basics to advanced business opportunities, The Index InstituteSM is your source for product
information, education, presentations and new sales ideas.
• It’s available 24/7 at genworth.com/indexinstitute.
5. Close Cases Quicker
• Life Quick Request® is our short-form ticket process that frees you from tracking down most underwriting
requirements and is proven to increase placement rates while decreasing cycle time.5
• ePolicy Delivery is the fast, easy and flexible way to electronically manage the entire policy delivery process
that cuts cycle time from weeks to days.
• 360°LifeViewSM Underwriting has redefined “healthy.” Get clients the best rate for a variety of common
conditions such as depression, high-blood pressure, obesity, asthma, anxiety and sleep apnea.
6. The Industry’s Best Service
• Genworth won DALBAR’s 2014 Life Service Award for the fourth consecutive year.
• We are proud to have scored higher than all other life insurance firms tested.
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® Index 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.
©2015 Genworth Financial, Inc. All rights reserved.
For Producer/Agent Use Only. Not To Be Reproduced Or Shown To The Public.
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Top Reasons to Sell Asset Builder Index UL II
Important Information
Genworth wrote this content to help you understand the ideas discussed and to support our marketing of the
product(s) identified in the material. Any examples are hypothetical and are used only to help you understand
the ideas. They may not reflect your client(s)’ particular circumstances. Your clients should carefully read their
contract, policy and prospectus(es), when applicable. What we say about legal or tax matters is our understanding of current law; but we are not offering legal or tax advice. Tax laws and IRS administrative positions may
change. We did not write this material for use by any taxpayer to avoid any Internal Revenue Service penalty and
neither you nor your clients may use it for that purpose. Your clients should ask their independent tax and legal
advisors for advice based on their particular circumstances.
The Accelerated Benefit Rider for Long Term Care Services is intended to be federally tax-qualified. Benefits
paid for qualified long term care services are received by your client income-tax-free. Once your client is insured,
as long as benefits are not exhausted or the policy lapses, this coverage is guaranteed renewable.
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.
Refer to the policy for definitions and more details regarding coverage and its features.
This brochure provides a summary of coverage. Policy terms and provisions will prevail.
1
A withdrawal may be free of federal income tax or “tax free.” If the policy is not a Modified Endowment Contract (MEC), then, except for certain
changes in the policy during the first 15 policy years and especially during the first five policy years that cause cash distributions that may be
taxable although they do not exceed investment in the contract (Basis), withdrawals are not taxable to the extent that they do not exceed Basis.
Policy loans are free of federal income tax when taken except if the policy is or becomes a MEC. If the policy is a MEC, a distribution (withdrawal
or policy loan, including any increase in the policy loan balance because of unpaid loan interest) is taxable to the extent that policy value
exceeds Basis. A 10% penalty tax may apply to distributions from a MEC if the policyholder is under age 591/2. Basis is premium paid minus
any long term care rider charges and minus nontaxable amounts previously recovered through policy loans taken from a MEC and withdrawals.
Assignment or pledge of a MEC as security for a loan would also be a taxable event. If the policy becomes a MEC, then any distribution (withdrawal or policy loan) taken in the policy year in which the policy becomes a MEC and in subsequent policy years is taxable the same as a
distribution from a MEC. Any distribution taken within two years prior to the policy becoming a MEC may also be taxable the same as a MEC.
Termination, other than by reason of the insured’s death, of a life insurance policy with a policy loan balance may be deemed a distribution of
the outstanding policy loan balance, resulting in possible adverse tax consequences for a policy that is not a MEC. Consult a tax advisor about
possible tax consequences. We are not responsible for any adverse tax consequences.
2
enerally, death proceeds paid are income-tax-free to the beneficiary. Death proceeds from certain employer-owned life insurance policies may
G
not be income-tax-free unless the requirements of section 101(j) of the Internal Revenue Code (Code) are met. All or part of death proceeds may
be taxable in other circumstances as well. The circumstances include, but are not limited to, the following: (a) the policy or an interest in it has
been transferred for a valuable consideration, and the transfer is not to a person identified in section 101(a) of the Code; (b) the death proceeds
are received under the terms of a qualified pension or profit-sharing plan; (c) the proceeds are received as alimony by a divorced spouse.
3
2014 LIMRA Individual Long Term Care Report. Based on Genworth companies’ share of in-force lives.
4
$10.4 billion: Total claims paid by Genworth’s long term care insurance business since 1974. Genworth internal data, as of December 31, 2013.
5
s of February 1, 2014, cases processed through Life Quick Request had a median cycle time of 13 days for term life insurance and 16 days for
A
universal life insurance cases from the day New Business receives the case to the day the policy is mailed. Term cases with face amounts greater
than $100,000 have an 8% increase in placement ratio over paper applications (rolling 12-month average).
©2015 Genworth Financial, Inc. All rights reserved.
For Producer/Agent Use Only. Not To Be Reproduced Or Shown To The Public.
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