Genworth Life Insurance Company (Genworth Life) will launch Privileged Choice® Flex 2 (Flex 2) in
Texas on July 1, 2013. Privileged Choice Flex 2 continues to offer a robust suite of benefits. With the
change to Privileged Choice Flex 2, Genworth is implementing strategic changes to underwriting and
our rate strategy for better alignment of pricing to risk. Click here for the official Genworth Bulletin.
Pricing Structure
Flex 2 features pricing by gender, marital status and underwriting category.
Couples Premium – If a couple applies and is issued coverage, they will receive a Couples
Premium. The Couples Premium is lower than individual premiums.
Individual Premium – Individual applicants receive gender-specific rates.
Underwriting Categories – Four underwriting categories enable sharper risk classification
designed to reward healthy clients.
Product Differences
There are a few product differences from Privileged Choice® Flex (Flex) to Flex 2.
Additional 4% Compound Inflation Protection Option.
Maximum Issue Age reduced from 79 to 75.
Siblings are not considered an eligible “Couple.”
Future Purchase Option and Compound Benefit increases are reduced by claims paid.
Formal Care Providers are required for reimbursement of Home Health or Personal Care
Services; Formal Care providers can be independent or work for an agency.
Sales and Marketing Tools
The Quote It! user experience and Flex 2 illustration have been updated with an easy-to-use design.
Starting 7/1/13, QuoteIt will illustrate Flex 2 in Texas.
Marketing Support:
The following marketing materials have been created for the Flex 2 launch and are slated to be
available through normal processes the week of June 17.
Privileged Choice Flex 2 Consumer Brochure
Privileged Choice Flex 2 Q&A
Privileged Choice Flex 2 Quick Reference Guide
Updated State Differences Matrix
TrueView UnderwritingSM Guide
TrueView Underwriting Quick Reference Guide
Transition Rules:
Please carefully review the transition dates and rules below. No exceptions will be made.
Important Note:
Prior to soliciting new business, verify your producer license is in good standing, you have completed all required CE, and you are in
compliance with all applicable licensure requirements. Applications will be returned if all such requirements have not been met as of the
date of the application.
Paper Applications:
7/1/13 Last valid Home Office Receipt Date – Flex applications must be received by 3:00PM ET
7/1/13 Last valid Application Signed Date
Faxed applications must be sent to either: 434 948.5566 or 800 456.8329.
Applications may be emailed to EMM-GNWLTCApps@genworth.com.
Note: Applications faxed or emailed to any fax number or email address other than those listed above may not make the 3:00 PM cutoff.
LTC App Wiz and LTC e-App:
6/28/13 Last day to submit – Flex applications submitted via e-Tools must be received by 11:59 PM ET
LTC Quick Request:
6/28/13 Last day to submit – Flex electronic Quick Requests must be submitted by 11:59 PM EDT
7/19/13 Flex Quick Request Application Interviews must be complete
8/12/13 Last valid Home Office Receipt Date for signed Flex Quick Request applications