Genworth Life and Annuity Insurance Company offers plan sponsors an investment option designed to provide guaranteed retirement income to participants. ClearCourse combines the lifetime benefit feature of a defined benefit plan with the growth potential of a defined contribution plan investment. ClearCourse is unlike any other investment option available today.
ClearCourse’s advantages include:
Guarantee
Every contribution to ClearCourse purchases a specific amount of retirement income that cannot be outlived. All guarantees are based on the claims-paying ability of Genworth Life and Annuity Insurance Company and all contract requirements being satisfied.
Growth Potential
Contributions to ClearCourse are invested in an underlying portfolio comprised primarily of stocks and bonds. Based on the portfolio’s performance, participants have the opportunity to receive income payments greater than the guaranteed amount. Portfolio fluctuations may cause a decrease in participant account balances; however, this will not cause a decrease in purchased guarantees.
Flexibility
Prior to retirement, participants can contribute to ClearCourse at any time. Participants may also withdraw amounts from ClearCourse, if needed, or transfer amounts between investment options, just as they can with other investment options in a 401(k) plan. Any withdrawals from ClearCourse will reduce guaranteed retirement income in the same proportion that it reduces the participant’s account balance.
ClearCourse is more than just an option within a 401(k) plan. It is designed to help participants target their future income needs and invest to meet them.
ClearCourse® is a group variable annuity issued by Genworth Life and Annuity Insurance Company, Richmond, Virginia. Policy form numbers MP7161 3/04, MP7164 2/06, P5329 2/06 not available in all states or markets. Features and benefits may vary by state and market. All guarantees are based on the claims-paying ability of Genworth Life and Annuity Insurance Company.
ClearCourse® - Patent Pending
