Effective Monday, March 11, 2019, Genworth will temporarily suspend sales of individual long term care insurance and the Income Assurance annuity through Truluma/the BGA channel in all states. Genworth will continue to sell these products through other channels.
Effective Monday, March 11, 2019, the Genworth companies will no longer accept new applications from Truluma/the BGA channel for individual long term care insurance or annuity products, including:
- Privileged Choice® Flex
- Privileged Choice® Flex 2
- Privileged Choice® Flex 3
- Privileged Choice® Flex 3 – Element
- Income Assurance Immediate Need Annuity
This change does not affect the following:
- Renewal commissions for in-force business
- Pending business or related compensation
- In-force policyholder servicing
- In-force policy contractual provisions and benefits such as conversion rights
Existing customers and their benefits will not be impacted by this change.
Transition Rules for New Applications and Pending Business Through Truluma/the BGA Channel:
03/08/2019 Last day to quote individual long term care
03/08/2019 Last valid Application Signed Date
03/11/2019 Last valid Home Office Receipt Date for applications, must be received by 8:00pm ET
Applications dated no later than March 8th, in good order (including all signatures and questions answered) MUST be emailed to our office and received no later than 12pm PST, Monday, March 11th in order to make the cut-off.
04/12/2019 Last day to receive pending new business requirements
05/31/2019 Last day to place pending new business in-force
05/31/2019 Pending applications closed that have not been issued in-force
Please contact Truluma with any questions.