On October 28, 2013, Genworth Life Insurance Company will be increasing the credited interest rate for the new Total Living Coverage® (TLC) product from 3.25% to 3.85%. As a result, our competitive benefits in the Linked Benefits market segment will increase by, on average, 15%.
This change affects the new TLC product only. The credited interest rate for the old product sold in CA, CT, FL, HI, IN, NJ and NY will remain at the contractual minimum of 3.50%.
Click here for the complete bulletin, including information on the transition rules, and a benefit comparison showing TLC’s new benefits vs. those of a leading linked-benefits competitor.