Genworth announced that it has introduced its second index universal life insurance product, Foundation Builder Index UL. The new product provides affordable death benefit protection backed by a no-lapse guarantee of up to 30 years, plus the opportunity to build cash value for future financial flexibility. In addition to an affordable, generally income-tax free death benefit at competitive premiums, Foundation Builder Index UL offers: Five index interest crediting strategies linked to the percentage change in the S&P 500 Index to help build cash value for future flexibility.

Policyowners benefit from interest credits up to a cap and have a guaranteed floor of 0%, meaning that even if the percentage change in the S&P 500 Index is negative, policyowners are guaranteed not to lose money solely on the percentage change in the S&P 500 Index. If the policyowner's needs change in the future, any cash value built can be used to provide the policyowner with additional financial flexibility. An optional Accelerated Benefit Rider for Long Term Care Services, drawing upon Genworth's 40-years of experience and leadership as the nation's large long term care insurance carrier.1 The rider, available at an additional cost, combined with index universal life insurance overage, creates reliable death benefit protection while offering access to the specified amount for covered long term care expenses.

The rider includes at-home coverage with no waiting period as well as coverage for informal aregivers. If the policyholder does not need to use the rider or only uses a portion of the specified amount for covered long term care expenses, then the remaining portion of the specified amount will be paid as a death benefit. Foundation Builder Index UL is Genworth's affordable death benefit index UL product.

Its first, Asset Builder Index UL, is an accumulation-focused and protection product that features additional distribution options such as participating or collateral loans. For both products, all Guideline Premium Test policies also include the Overloan Protection Rider. As part of its commitment to continually raise the bar on technology and customer service, Genworth's index UL products are the first and only index UL products in the industry available on a comprehensive front-to-back electronic platform that significantly shortens the application and fulfillment cycle time.

The electronic platform encompasses illustrations, drop ticket, ticket fulfillment and ePolicy delivery on the end.