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Innovative Universal Life Insurance Product Combines Affordability with Cash Values

Genworth's Lifetime FlexPlus(SM) II Offers Competitive Pricing and More Resilient Secondary Guarantee

RICHMOND, Va., June 18 /PRNewswire-FirstCall/ -- The Genworth Financial companies have introduced a new, more flexible version of their flagship universal life (UL) insurance product-Lifetime FlexPlus(SM)-designed to successfully combine the benefits of excellent non-guaranteed cash values with a long-term secondary guarantee.

The new version, Lifetime FlexPlus(SM) II, offers several other innovative enhancements to the UL marketplace. It features lower premiums and an improved secondary guarantee design that is more resilient against the adverse effects of loans, withdrawals and policy changes. Lifetime FlexPlus(SM) II also offers competitive rolling target premiums.

"We understand that consumers who buy universal life insurance are making a long term commitment and we built Lifetime FlexPlus II to deliver on that promise," said William Goings, President, Genworth Financial's life insurance segment. "At the same time, our research tells us that consumers think cash values are important. Lifetime FlexPlus II features outstanding non-guaranteed cash values that are among the best in the secondary guarantee UL market. It is the right product design at the right time."

Lifetime FlexPlus II will be available for traditional premium financing cases in addition to the Life Ready(SM) UL II product Genworth introduced in 2007.

About Genworth Financial

Genworth Life and Annuity Insurance Company and Genworth Life Insurance Company are is a Genworth Financial companies. Genworth Financial, Inc. (NYSE: GNW) is a leading public Fortune 500 global financial security company. Genworth has more than $114 billion in assets and employs approximately 7,000 people in 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of over 15 million customers. Genworth operates through three segments: Retirement and Protection, International and U.S. Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit genworth.com.

Lifetime FlexPlus II is subject to the terms and conditions of Policy Form No. GLAULFX0108 et al. (Genworth Life & Annuity, Lynchburg, VA) or GLIULFX0108 et al. (Genworth Life, Lynchburg, VA) and to issue limitations. The product and benefits may not be available in all states. Life Ready UL II is subject to the terms and conditions of Policy Form No. GLAULLRII0807 et al. (Genworth Life & Annuity) or GLIULLRII0807 et al. (Genworth Life) and to issue limitations. The product and benefits may not be available in all states.

SOURCE Genworth Financial
CONTACT: Kirby Kriz of Genworth Financial, +1-804-662-2579
Kirby.kriz@genworth.com
Web site: http://www.genworth.com
(GNW)