Suspension of All Individual Long Term Care Insurance and Income Assurance Annuity Sales Through the BGA Channel Effective March 11, 2019
Effective Monday, March 11, 2019, Genworth will temporarily suspend sales of individual long term care insurance and the Income Assurance annuity through the BGA channel in all states. We will continue to sell these products through other channels.
Effective Monday, March 11, 2019, the Genworth companies will no longer accept new applications from the BGA channel for our individual long term care insurance or annuity products, including:
Privileged Choice® Flex
Privileged Choice® Flex 2
Privileged Choice® Flex 3
Privileged Choice® Flex 3 – Element
Income Assurance Immediate Need Annuity
This change does not affect the following:
Renewal commissions for in-force business
Pending business or related compensation
In-force policyholder servicing
In-force policy contractual provisions and benefits such as conversion rights
Existing customers and their benefits will not be impacted by this change, and Genworth’s commitment to them remains as strong as ever.
Transition Rules for New Applications and Pending Business Through the BGA Channel
Last day to submit an eApplication (eSuite of New Business tools)
Last day to quote individual long term care and Income Assurance annuity products
Last valid Application Signed Date
Last valid Home Office Receipt Date for applications, must be received by 8:00pm ET
Note: Applications faxed or emailed to any fax number or email address other than those listed above may not make the 8:00pm ET cutoff.
Last day to receive pending new business requirements
Last day to place pending new business in-force
Pending applications closed that have not been issued in-force
If you have application questions during the transition period, please contact your New Business Team representative.
Genworth companies include: Genworth Life and Annuity Insurance Company, Richmond, VA Genworth Life Insurance Company, Richmond, VA Genworth Life Insurance Company of New York, New York, NY
Only Genworth Life Insurance Company of New York is admitted in and conducts business in New York.
FOR PRODUCER/AGENT USE ONLY. NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC.