Choice is a Wonderful Thing

Effective August 15, 2011, Genworth Life Insurance Company will introduce Privileged Choice Flex, a new modular long term care insurance product that allows more flexibility for easy customization plus innovative new features and benefits to add more value to your clients' long term care insurance plan.

Modular Design with New Optional Benefits

Our combination of modular design and new benefits enables producers to offer a broader range of long term care solutions to their clients.  These additional options make it easier to maximize your client's benefits or reduce their initial premiums depending on their needs.

New "Now" Benefits

Privileged Choice Flex introduces two new NOW benefits so that your clients can take advantage of their long term care insurance plan from day one.

Live+Well

Genworth and Mayo Clinic have teamed up to offer Live+Well, a groundbreaking wellness program available to Privileged Choice Flex policyholders and their spouses/partners. Live+Well provides policyholders online access to health-related tools, services and information and offers consumers healthy living options.

Caregiver Support Services

Caregiver Support Services, provided by CareScout, a Genworth company, can help policyholders identify care resources that may be needed for aging parents or other family members.

Enhanced Shared Coverage

Privileged Choice Flex is adding value for couples with a guarantee on Shared Coverage. With the guarantees, each policyholder is guaranteed to have access to at least 50% of his or her original coverage, even if the total shared pool of money has been depleted by the other.

New Marketing and Point of Sale materials will be available in advance of the launch

With the Launch of Privileged Choice Flex, Genworth Life has redesigned consumer and producer marketing collateral.

The new collateral presents long term care insurance in easy to understand concepts.

• Application and Forms
  • Two separate booklets makes it easier for you to submit all of the right materials for a complete application
    • Application and Forms Company Submission Materials (everything that must be submitted to the company)15971MOD-CXX
    • Applicant Materials Booklet (everything you leave with the applicant) 115971MOD-A
  • Product Brochure 111407XX
  • Long Application Point of Sale Kit LAPCFLEX-XX (includes all three items listed above and the NAIC Shoppers Guide )
• Material Availability
  • The new forms and marketing materials will be available for download and ordering through normal fulfillment channels on August 1, 2011.

Software and e-Tools will be available at launch on August 15th, 2011

• Quoting Software
  • Our intuitive quoting software, Quote It!, will replace Winflex for Privileged Choice Flex.
  • We will provide the link to the quote tool at launch
  • Quote It! includes added functionality to save your favorite plan design and save illustrations online.
• LTC Features Comparison Tool
  • Provides both summarized and detailed view comparing our products versus more competitors' products than ever before
  • You will find the new tool on Genworth Pro beginning August 15, 2011
• Other e-Tools will be updated with Privileged Choice Flex information
• All e-tools will be unavailable in all states 8/13 - 8/14 to accommodate the transition to the new product.

State Availability

• We will be launching 36 states on August 15, 2011. The list of states to be launched includes AL, AK, AR, AZ, CO, DE, DC, GA, ID, IA, KS, KY, LA, MA, ME, MI, MS, MO, MT, NC, ND, NE, NH, NJ, NM, OK, OR, SC, SD, TN, TX, UT, WA, WI, WV, WY

Transition Rules

Important Dates:

8/12/11 Last day to submit applications via any e-tools, including Quote It. All e-tools, in all states, will not be available 8/13 - 8/14 to accommodate the transition to the new product

8/14/11 Last valid Application Signed Date for current products, applications and forms to apply in states that are launching Privileged Choice Flex

8/15/11 Privileged Choice Flex product launches in approved states. All applications dated on or after August 15, 2011 must use the new applications and forms for Privileged Choice Flex.

9/16/11 Last valid Home Office Received Date for Privileged Choice and Classic Select and their respective applications and forms. Applications must be signed and dated on or before 8/14/2011

If you have additional questions, please contact Madison Brokerage.
 
Long Term Care Insurance products are underwritten by Genworth Life Insurance Company
 
FOR PRODUCER/AGENT USE ONLY.  NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC.