GRAPEVINE, TEXAS — Genworth Financial Inc. may introduce an indexed annuity in 2011 — and a long term care insurance policy with an embedded wellness feature.
Buck Stinson, a vice president at Genworth, Richmond, Va. (NYSE:GNW), talked about product strategy and the economy in a telephone interview about Genworth’s efforts at the 29th annual meeting of the National Association of Independent Life Brokerage Agencies (NAILBA), Fairfax, Va.
Stinson was not able to attend, but Genworth had a large contingent here and today donated $20,000 to the NAILBA Charitable Foundation. (Prudential Financial Inc., Newark, N.J. (NYSE:PRU), followed up by donating $25,000.)
Genworth has been here at NAILBA promoting a book value annuity, a single-premium immediate annuity and a new market-value-adjusted annuity, and it wants to bring out an indexed annuity to round out the product line, Stinson said.
We’re “live tweeting” NAILBA 29 here, under the Twitter name NatUndLife.
Genworth also wants to respond to the concern created by the recent decision of MetLife Inc., New York (NYSE:MET), to pull out of the long term care insurance market, Stinson said.