A life insurer has revised its main line of universal life insurance products.
Genworth Financial Inc., Richmond, Va., says its Genworth Life and Annuity Insurance Company and Genworth Life Insurance Company units have introduced the Lifetime FlexPlus II policies, which are new versions of the Lifetime FlexPlus UL policies.
The new policies offer lower premiums along with secondary guarantees that are less sensitive to the effects of loans, withdrawals and policy changes, Genworth says.
Customers can use the new policies with traditional premium financing arrangements, Genworth says.
Genworth Life and Annuity, Lynchburg, Va., and Genworth Life, Lynchburg, are responsible for backing the product guarantees.