And Another Thing. . .

Genworth Financial, in addition to launching Total Living Coverage Annuity, its hybrid annuity/LTC policy, has also brought out another annuity that acts more or less as a "CD alternative," according to Chris Grady, president of distribution and marketing for U.S. Life Companies. The SecureLiving Rate Saver, offered by Genworth Life and Annuity Insurance Company, has a market value adjustment provision that offers a higher interest rate than is available on similar products.

Available up to age 85, the annuity offers a choice of a 5-year or a 7-year interest rate guarantee period and tax-deferred earnings growth. It also has flexible income payment options.

Genworth has brought out several new offerings in the past several months. In November of 2009 it launched Colony Term UL, a universal life policy that, according to the company, "competes with term life insurance and is designed to address the same financial security needs of the term life buyer." And earlier in the fall it brought out the GenGuard suite of UL policies, which offer buyers the opportunity to "match financial security needs to appropriate death-benefit guarantees." Those guarantees are conditional guarantees that can keep policies in force even if policy values do not. And some policy rights will end the guarantee if they are exercised.