Privileged Choice® Flex 2

Underwritten by Genworth Life Insurance Company, Richmond, VA. For Agent/Producer use only.  Not to be reproduced or shown to the public.

©2014 Genworth Financial, Inc. All rights reserved.

158681 06/01/14

Important Information

2

Review of these materials is strictly for the purpose of your due diligence review of Genworth.

Your review of this document is subject to various confidentiality obligations your company has with Genworth and its affiliates.

Subject to final business approval and state approvals.

This is a brief product summary. Not all product features are shown; significant product features are selected for informational purposes only. Features, benefits, riders and discounts may vary; and certain conditions and restrictions may apply. Only the applicable policy contains actual terms and conditions of coverage.

Coverage is provided under policy form series 8000 and 8001.

For Agent/Producer use only.  Not to be reproduced or shown to the public.

Table of Contents

For Agent/Producer use only.  Not to be reproduced or shown to the public.3

• Background

• Overview of Changes to Privileged Choice® Flex 2

• Change Details

• Corresponding Sales Tool Updates

• Privileged Choice® Flex 2 State Map

Privileged Choice Flex 2

For Agent/Producer use only.  Not to be reproduced or shown to the public.4

In April 2013, Genworth Life Insurance Company (Genworth) introduced Privileged Choice Flex 2.

With this product launch, Genworth made strategic changes to underwriting to reduce risk on our long term care insurance (LTCI) products.

• Classification into four underwriting categories

• Implementation of a gender based pricing structure*

More precise underwriting and gender based pricing are being implemented to improve the sustainability of long term care insurance.

*Gender based pricing does not apply to Colorado and Montana.

Change Details – New Product

5

  Privileged Choice® Flex (7052) Privileged Choice® Flex 2 (8000, 8001)

CORE 4 DECISIONS

1. Benefit Payment Options Monthly $1,500 - $12,000 ($100 increments) or Daily $50 - $400 ($5 Increments)

2. Benefit Multiplier 2, 3, 4, 5, 6, 8 or 10 Years

3. Elimination Period 30, 90, 180, 365 Service or Calendar Days

4. Inflation Protection 5% or 3% Compound, 5% Simple, Future

Purchase Option or None5%, 4% or 3% Compound, 5% Simple, Future

Purchase Option or None

Claims No Claims Offset Claims Offset on Compound Inflation

STANDARD BENEFITS

Privileged Care Coordination IncludedCaregiver Support Services IncludedLive+WellSM IncludedHospice Care IncludedHome Assistance Benefit Included (90 Days)Bed Reservation 60 Days Per YearRespite Care 30 Days Per YearAlternate Care Benefit IncludedInternational Coverage 48 Month - 50% Nursing Home, 12 Months - 25% for Home Care

For Producer Use Only. Not to be reproduced or shown to the public.

Change Details – New Product continued

6

  Privileged Choice® Flex (7052) Privileged Choice® Flex 2 (8000, 8001)

CARE OPTIONS

Nursing Facility 100%Assisted Living Facility 50% or 100%Home & Community Care 50% or 100%

PRICING & UNDERWRITING

Preferred Health Discount Not Available Built into Pricing Structure

Couples Discount Available Built into Pricing Structure

Underwriting Categories Standard Preferred Best, Preferred, Select and Standard

OTHER

Issue Ages 18 - 79 18 - 75

Couples Definition Siblings Included Siblings Excluded

Homemaker & Chore Care Informal Care Providers Are Acceptable

Home Health or Personal Care Formal Care Provider Not Required Formal Care Provider Required

For Producer Use Only. Not to be reproduced or shown to the public.

Privileged Choice Flex 2

For Agent/Producer use only.  Not to be reproduced or shown to the public.7

  Privileged Choice Flex (7052) Privileged Choice Flex 2 (8000, 8001)

OPTIONS

1st Day Home Care Available

Refund of Premium Graded and 10 Year

Shared Benefit Guaranteed Minimum

Transition Benefit Available

Restoration Benefit Available

Nonforfeiture Benefits Available

Payment Options Lifetime Pay

Privileged Choice Flex 2

For Agent/Producer use only.  Not to be reproduced or shown to the public.8

Inflation ProtectionAdding 4% compound inflation protection to the Inflation Protection Benefit options.

Claims OffsetThe treatment of inflation protection is changing. Compound inflation increases will be impacted by any claims paid.

Privileged Choice Flex 2

For Agent/Producer use only.  Not to be reproduced or shown to the public.9

Home and Community CareGenworth will continue to reimburse covered expenses provided by informal caregivers for Homemaker and Chore Care.

Covered care for Home Health or Personal Care Services must be provided by formal care providers to be eligible for reimbursement.

Shared BenefitThe Shared Benefit guarantee is being refined. If a couple with the Shared Benefit decreases their coverage amount at any time, the guarantee will be based on the lower coverage amount.

Privileged Choice Flex 2Underwriting Changes

For Agent/Producer use only.  Not to be reproduced or shown to the public.10

Privileged Choice Flex 2 features four underwriting categories:

• Preferred Best

• Preferred

• Select

• Standard

11

Pricing StructureInstead of using discounting, Genworth is moving to precision based pricing by gender, marital status and underwriting category.

Changes for CouplesThe new pricing structure is designed with “built-in discounts.” If a couple applies and is issued coverage, they will receive lower rates than if they applied as individuals.

Gender Based PricingThe gender based pricing structure is applicable to individual policies and is based on historical claims data. In the instance a state doesn’t allow gender based pricing, unisex rates will be based on blended single rates. Factors contributing to the new pricing structure include:

Percentage of Total Claims1

• 38% Single Female• 28% Married Female• 24% Married Male• 10% Single Men

For Agent/Producer use only.  Not to be reproduced or shown to the public.

1Genworth internal claims data 12/2012.

Privileged Choice Flex 2

Privileged Choice Flex 2Couples Rates

For Agent/Producer use only.  Not to be reproduced or shown to the public.12

2 Year Benefit Period No Inflation 3% Compound Inflation 5% Compound Inflation

Couple 50 60 70 50 60 70 50 60 70

Preferred Best

$366

$446

$949

$556

$634 $1,211

$932

$1,103

$1,547

Preferred

407

495 1,054

618

704

1,345

1,035

1,226

1,719

Select

451

554 1,265

685

845

1,614

1,199

1,378

2,062

Standard

563

693 1,581

856

1,057

2,018

1,499

1,723

2,578

Flex 1 Standard $393 $589 $1,477 $606 $898 $1,885 $886 $1,145 $2,301

These premiums were based on a $3,000 Monthly Maximum, 90 Day Elimination Period,100% Home and Community Care Coverage and 100% Assisted Living Facility Coverage. Policy form series 8000 and 8001.

Privileged Choice Flex 2Couples Rates

For Agent/Producer use only.  Not to be reproduced or shown to the public.15

4 Year Benefit Period No Inflation 3% Compound Inflation 5% Compound Inflation

Couple 50 60 70 50 60 70 50 60 70

Preferred Best

$525

$609 $1,324

$673

$922

$1,783

$1,377

$1,548

$2,216

Preferred583

677

1,471

748

1,024

1,981

1,530

1,720

2,463

Select

605

793 1,765

846

1,229

2,377

1,695

1,749

2,955

Standard

756

992 2,206

1,057

1,536

2,971

2,119

2,186

3,694

Flex 1 Standard $553 $843 $2,061 $883 $1,306 $2,775 $1,313 $1,687 $3,450

These premiums were based on a $3,000 Monthly Maximum, 90 Day Elimination Period,100% Home and Community Care Coverage and 100% Assisted Living Facility Coverage. Policy form series 8000 and 8001.

Privileged Choice Flex 2Couples Rates

For Agent/Producer use only.  Not to be reproduced or shown to the public.18

6 Year Benefit Period No Inflation 3% Compound Inflation 5% Compound Inflation

Couple 50 60 70 50 60 70 50 60 70

Preferred Best

$636

$724 $1,635

$828

$1,146

$2,219

$1,611

$1,924

$2,759

Preferred706

805

1,817

919

1,273

2,465

1,790

2,138

3,065

Select

733

943 2,180

1,040

1,528

2,958

1,983

2,174

3,678

Standard

916

1,179 2,725

1,300

1,910

3,698

2,479

2,717

4,598

Flex 1 Standard $658 $990 $2,618 $1,068 $1,629 $3,510 $1,511 $2,104 $4,381

These premiums were based on a $3,000 Monthly Maximum, 90 Day Elimination Period,100% Home and Community Care Coverage and 100% Assisted Living Facility Coverage. Policy form series 8000 and 8001.

Sales Tools

For Agent/Producer use only.  Not to be reproduced or shown to the public.21

As Genworth makes these evolutionary changes, we are committed to creating new tools to help agents/producers easily transition to this new approach.

• Product Material

• Consumer Brochure

• Producer Q&A Brochure

• Quick Reference Guide

• New Streamlined Illustration

• Quote It!

• Improved User Interface

- Help Functions Specific to Underwriting Selection

- User Friendly Layout

• Underwriting Material

• Underwriting Guide

• Quick Reference Guide

AK

ME

NH VT

NY

RI

MD

VA WV

NC TN

GA AL MS

LA

OH

IN

MI

ND

SD

MN WI

IA NE

IL

KS MO

MT

WY

ID

WA

OR

UT

CO

NV

CA

AZ NM

TX

OK

DC

KY

FL

NJ

CT

HI

SC

DE

MA

As of 2/24/14

PA

AR

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Privileged Choice Flex 2

For Agent/Producer use only.  Not to be reproduced or shown to the public.

Privileged Choice Flex 2

Privileged Choice Flex 2 NY

Product Changes

23For Agent/Producer use only.  Not to be reproduced or shown to the public.

Privileged Choice Flex 2

24

  Privileged Choice® Flex (7052NY) Privileged Choice® Flex 2 (8000NY)

CORE 4SM DECISIONS

1. Benefit Payment OptionsMonthly $1,600 - $12,000 ($100 increments)

or Daily $50 - $400 ($5 Increments) Monthly $1,550 - $9,300 ($100 increments)

or Daily $50 - $300 ($5 Increments)

2. Benefit Multiplier 2, 3, 4, 5, 6, 8 or 10 Years 2, 3, 4 or 5

3. Elimination Period 30, 90, 180, 365 Service or Calendar Days 30, 90 and 180 Service or Calendar Days

4. Inflation Protection 5% or 3% Compound, 5% Simple, Future Purchase Option or None

Claims No Claims Offset on Compound Inflation Claims Offset on Compound Inflation

STANDARD BENEFITS

Privileged Care Coordination Included

Caregiver Support Services Included

Hospice Care Included

Home Assistance Benefit Included (90 Days)

Bed Reservation 60 Days Per Year

Respite Care 30 Days Per Year

Alternate Care Benefit Included

International Coverage 50% Nursing Home, 12 Months - 25% for Home Care

For Agent/Producer use only.  Not to be reproduced or shown to the public.

Privileged Choice Flex 2(continued)

25

  Privileged Choice® Flex (7052NY) Privileged Choice® Flex 2 (8000NY)

CARE OPTIONS

Nursing Facility 100%

Assisted Living Facility 50% or 100%Home & Community Care 50% or 100%

PRICING & UNDERWRITING

Preferred Health Discount Not Available Built into Pricing Structure

Couples Discount Available Built into Pricing Structure

Underwriting Categories Standard Preferred Best, Preferred, Select and Standard

OTHER

Issue Ages 18 - 79 18 - 75

Couples Definition Siblings Excluded

Homemaker & Chore Care Informal Care Providers Are Acceptable

Home Health or Personal Care Formal Care Provider Not Required Formal Care Provider Required

For Agent/Producer use only.  Not to be reproduced or shown to the public.

Privileged Choice Flex 2 Riders

For Agent/Producer use only.  Not to be reproduced or shown to the public.26

 Privileged Choice

Flex (7052NY) Privileged Choice

Flex 2 (8000NY)

OPTIONS

1st Day Home Care Available

Shared Benefit (Guaranteed Min) Available

Nonforfeiture Benefits Available

Payment Options Lifetime Pay

Refund of Premium (Graded and 10 Yr) Available Not Available

Transition Benefit Available Not Available

Restoration Benefit Available Not Available

New York Partnership Plus

Plan Changes

27For Agent/Producer use only.  Not to be reproduced or shown to the public.

New York Partnership Plus Plans

28For Agent/Producer use only.  Not to be reproduced or shown to the public.

Current Plan Options New Plan Options

Dollar for Dollar 50 Dollar for Dollar – Plan 1 (1.5/3/50)

Dollar for Dollar 100 Dollar for Dollar – Plan 2 (2/2/100)

– Total Asset Protection – Plan 3 (2/4/50) - NEW

Total Asset 50 Total Asset Protection – Plan 4 (3/6/50)

Total Asset 100 Total Asset Protection – Plan 5 (4/4/100)

Dollar for DollarPlan Changes

29For Agent/Producer use only.  Not to be reproduced or shown to the public.

  Dollar for Dollar 50 (7052NYP) Dollar for Dollar – Plan 1 (1.5/3/50) (8000NYP)

OPTIONS

Benefit PaymentsDaily Benefit Amount (DBA) selections range from $265 to $400 (indexed yearly)

DBA selections range from $274 or $275 to $300 (indexed yearly)

Length of Benefit Period Nursing Home Care (NHC): 1.5 years Home Community Care (HCC) & Assisted Living Facility (ALF): 3 years

Nursing Home Care Benefit 100% DBA

Home & Community Care and Assisted Living Facility Benefit

50% DBA

Elimination Period 30 or 60 Days

Inflation Protection 5% Compound 5% or 3.5% Compound

Waiver of Premium Benefit Available

Underwriting Categories Standard Preferred Best, Preferred, Select, Standard

AVAILABLE RIDERS

Full Daily Maximum Benefits Rider Not Available

Independent, Informal and Supplementary Benefits Rider

Not Available

Monthly Home Care Maximum Rider Not Available

Nonforfeiture Benefit Rider Available

Refund of Premium Benefit Riders Not Available

Dollar for Dollar Plan Changes

30For Agent/Producer use only.  Not to be reproduced or shown to the public.

 Dollar for Dollar 100 (7052NYP)

Dollar for Dollar – Plan 2 (2/2/100) (8000NYP)

OPTIONS

Benefit PaymentsDBA selections range from $265 to $400 (indexed yearly)

DBA selections range from $274 or $275 to $300 (indexed yearly)

Length of Benefit Period NHC: 2 years HCC & ALF: 2 years

Nursing Home Care Benefit 100% DBA

Home & Community Care and Assisted Living Facility Benefit

100% DBA

Elimination Period 30 or 60 Days

Inflation Protection 5% Compound 5% or 3.5% Compound

Waiver of Premium Benefit Available

Underwriting Categories Standard Preferred Best, Preferred, Select, Standard

AVAILABLE RIDERS

Full Daily Maximum Benefits Rider Not Available

Independent, Informal and Supplementary Benefits Rider

Available

Monthly Home Care Maximum Rider Available

Nonforfeiture Benefit Rider Available

Refund of Premium Benefit Riders Not Available

Total Asset Protection - Plan 3 (2/4/50)New Plan

31For Agent/Producer use only.  Not to be reproduced or shown to the public.

 Total Asset Protection – Plan 3

(2/4/50) (8000NYP)

OPTIONS

Benefit Payments DBA selections range from $274 or $275 to $300 (indexed yearly).

Length of Benefit Period NHC: 2 years HCC & ALF: 4 years

Nursing Home Care Benefit 100% DBA

Home & Community Care and Assisted Living Facility Benefit

50% DBA

Elimination Period 30 or 90 Days

Inflation Protection 5% or 3.5% Compound

Waiver of Premium Benefit Available

Underwriting Categories Preferred Best, Preferred, Select, Standard

AVAILABLE RIDERS

Full Daily Maximum Benefits Rider Not Available

Independent, Informal and Supplementary Benefits Rider Not Available

Monthly Home Care Maximum Rider Not Available

Nonforfeiture Benefit Rider Available

Refund of Premium Benefit Riders Not Available

Total Asset Protection Plan Changes

32For Agent/Producer use only.  Not to be reproduced or shown to the public.

  Total Asset 50 (7052NYP)Total Asset Protection - Plan 4 (3/6/50) (8000NYP)

OPTIONS

Benefit PaymentsDBA selections range from $265 to $400 (indexed yearly)

DBA selections are $274 or range from $275 to $300 (indexed yearly)

Length of Benefit Period NHC: 3 years HCC & ALF: 6 years

Nursing Home Care Benefit 100% DBA

Home & Community Care and Assisted Living Facility Benefit

50% DBA. Rider Upgrade to 100% Available

Elimination Period 30 or 90 Days

Inflation Protection 5% Compound 5% or 3.5% Compound

Waiver of Premium Benefit Available

Underwriting Categories Standard Preferred Best, Preferred, Select, Standard

AVAILABLE RIDERS

Full Daily Maximum Benefits Rider Available

Independent, Informal and Supplementary Benefits Rider

Available

Monthly Home Care Maximum Rider Available

Nonforfeiture Benefit Rider Available

Refund of Premium Benefit Riders Available Not Available

Total Asset Protection Plan Changes

33For Agent/Producer use only.  Not to be reproduced or shown to the public.

  Total Asset 100 (7052NYP)Total Asset Protection - Plan 5 (4/4/100) (8000NYP)

OPTIONS

Benefit Payments DBA selections range from $265 to $400 (indexed yearly)

DBA selections range from $274 or $275 to $300 (indexed yearly)

Length of Benefit Period NHC: 4 years HCC & ALF: 4 years

Nursing Home Care Benefit 100% DBA

Home & Community Care and Assisted Living Facility Benefit

100% DBA

Elimination Period 30 or 90 Days

Inflation Protection 5% Compound 5% or 3.5% Compound

Waiver of Premium Benefit Available

Underwriting Categories Standard Preferred Best, Preferred, Select, Standard

AVAILABLE RIDERS

Full Daily Maximum Benefits Rider Not Available

Independent, Informal and Supplementary Benefits Rider

Available

Monthly Home Care Maximum Rider Available

Nonforfeiture Benefit Rider Available

Refund of Premium Benefit Riders Available Not Available

Why Genworth

For Agent/Producer use only.  Not to be reproduced or shown to the public.34

ExperienceThere is no substitute for experience. Genworth Life Insurance Company (Genworth Life) helped pioneer long term care insurance in 1974.

Today Genworth Life leads the industry with more than 1,000,0002 policyholders.

Product InnovationGenworth Life is an industry leader in the development of long term care insurance products. Our years of experience have allowed us to design products and services to fit our customers’ needs and a range of budgets, and help protect them and their loved ones.

Education and AwarenessGenworth Life also leads when it comes to understanding the costs of long term care. To learn about these costs in your area, visit genworth.com/costofcare.

CommitmentPaying benefits to families at the most critical moments of their lives is a crucial part of what we do. To date we have paid more than $9.1 billion3 in long term care insurance claims.

2 2011 LIMRA Individual Long Term Care Report. Based on Genworth companies’ share of in-force lives.3 As of 12/2012.

35

©2013 Genworth Financial, Inc. All rights reserved.

For Agent/Producer use only.  Not to be reproduced or shown to the public.

Insurance and annuity products:

• Are not deposits.

• Are not insured by the FDIC or any other federal government agency.

• May decrease in value.

• Are not guaranteed by the bank or its affiliates.