Genworth’s SecureLiving Index 5 Fixed Indexed Annuity

Genworth Financial appreciates the popularity of fixed indexed annuities and has just added a new product to their SecureLiving fixed indexed annuity line.  MarketWatch’s “Genworth Introduces 5-year Fixed Index Annuity With Guaranteed 4% Minimum Accumulation Benefit,” gives details of the new product from a company press release.  They say that the SecureLiving Index 5 is perfect for people looking to combat the low interest rate environment that Americans have been experiencing for years now.  This single premium annuity is both deferred and fixed to the S&P 500 Index.  With a 4% minimum accumulation benefit, Genworth is confident that Americans will be getting just the annuity for which they are looking.  By being linked to the S&P, Genworth points out that this annuity has the potential to offer much better returns than products hurting with the low interest rates.

Since this is a fixed annuity product, you are guaranteed to keep your premium amount and interest that you have been credited no matter what happens in the associated index.  All contracts for the SecureLiving Index 5 come with an included 104% guarantee because of the attached minimum accumulation benefit.  Even if the index has continual declines, which is not likely, you will keep your guaranteed money after the surrender period is up.  By the second year, you can take out 10% yearly without any penalty.  There is also a bailout cap for extra protection.  The SecureLiving Index 5 offers six different interest crediting strategies.  Two of the choices are fixed rate and four are index crediting rate choices.  The beginning of the contract is the only time that you can utilize the five-year interest crediting strategy.  A one-year strategy is used after that year.  If you would like more details about Genworth’s new fixed indexed annuity, contact one of our experts.

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