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Genworth life

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Genworth Term Life

Dominant player with simple applications
This information is current as of 8-09 and it's best to request current information from us

Genworth has the strength of name recognition combined with one of the easiest applications on the market and good pricing across the lower lengths of term life.    Genworth's most attractive product is the Sure Term family of term life plans.   Genworth also offers the Colony suite of term life plans but they are identical to the Sure Term.

Quote Genworth term life insurance

Premium Bands

Each carrier has "premium bands" as we discussed in our Term life premium price bands which determine lower price per dollar of coverage.  Genworth's Sure Term is as such:

Rate Bands
$50,000 - $99,999
$100,000 - $249,999
$250,000 - $999,999
$1,000,000 and larger
In certain cases, face amounts near the upper part of a band may have higher premiums than the minimum face amount of the next higher band.


  Product Names
Sure Term 10   (click on plan name
Sure Term 15      for more detail)
Sure Term 20
Sure Term 30

Rating Agency
S&P             A
Moody's       A2
Fitch             A-

GenWorth Life Application

Modal Factors
Semi-annual = .51 (8.2% APR) Quarterly = .26 (10.8% APR) Monthly = .0875 (10.8% APR) Pre-arranged withdrawals only)

Annual Policy Fee:  $50

Our Take on Genworth.  It's probably one of our top 3 carriers currently offered on the term life insurance market.  Their application and enrollment process is one of the most streamlined available which befits the size and length of time they have been in the business.  Their pricing is consistently in the middle...the "Goldilocks" range...not too high...not too low.  This is important because it's a good strategy for stability and financial strength into the future but not excessive as expense of the life insurance policy holder (you!)  We feel confident in Genworth's direction and overall performance.


Available Genworth Sure Term Riders:

Optional riders are subject to product issue ages and state variations.

Waiver of Premium Rider (WP)* � Each premium payment which falls due while the insured is totally disabled will be waived. WP rates change when the policy�s premium changes. The rider terminates on the policy anniversary nearest the insured�s 60th birthday.

Issue Ages:
10/15/20- year term��15�55
30-year term����...15�50

Children�s Insurance Rider (CIR)* � CIR provides term life insurance for each dependent child ages 15 days � 23 years. Up to $10,000 coverage may be purchased in $1,000 increments. Coverage on a dependent child terminates on the earlier of the child�s 25th birthday or the policy anniversary nearest the insured�s 65th birthday. CIR rate - $5.50 per $1,000 coverage.

Issue Ages:
10/15/20- year term��18�55
30-year term��� �..18�50

When both Waiver of Premium and CIR riders are in force, an additional charge is added to the CIR rate. The additional charge is determined by the insured�s age nearest birthday, as depicted below. See note below.

Ages       Added annual charge (per $1,000 coverage)
18�29                      .06
30�39                      .11
40�49                      .18
50�55                      .27
Accelerated Death Benefit Rider (ADB)* � Provides a lump sum benefit upon diagnosis of a terminal illness that reduces life expectancy to 6 months or less (in most states). Maximum benefit is $500,000. No initial cost. Interest is charged at the time of payment. An administration fee is deducted when the option is exercised.
*Accelerated Death Benefit (ADB) is not available with New Jersey Sure Term Series.

General Information:

Genworth Life Insurance Company

Customer Service 888-436-9678

700 Main Street
Lynchburg, VA 24504
Founded in 1871

Part of Genworth Financial, originally know as GE Financial

Available Health Classes:
Preferred Best No Nicotine Use (PBNN)
Preferred No Nicotine Use (PNN)
Select No Nicotine Use (SLNN)
Standard No Nicotine Use (SNN)
Custom No Nicotine Use (CNN)
Preferred Nicotine Use (PNU)
Standard Nicotine Use (SNU)
Custom Nicotine Use (CNU)
No Nicotine Use excludes the use of nicotine and nicotine substitutes.
























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