GLAIC, also known as Genworth Life and Annuity Insurance Company, offers a number of options in life insurance coverage, reports Genworth Financial. The company also offers long-term care insurance, annuities and mortgage insurance.
GLAIC life insurance coverage includes term-life insurance, a low premium option without cash value that provides coverage for a defined period of time, according to Genworth Financial. The whole-life option provides lifetime fixed premium coverage with guaranteed benefits and cash values. Guaranteed universal life insurance policies offer death benefits and cash value with flexible premium rates depending on life circumstances, but their flexibility makes them riskier than other forms of coverage. Index universal life insurance also has flexible premiums, but its interest rates are linked to financial market indices.
Long-term care insurance protects individuals who develop chronic conditions or long-term illnesses when they need extended care at home or in an outside facility, states Genworth Financial. Clients are also able to link long-term care insurance and life insurance into a single coverage package. GLAIC offers fixed annuities with guaranteed interest to supplement retirement portfolios. Its mortgage insurance coverage offers fixed monthly premiums; discounts and rebates on needed household items; and a home buyer assistance program that helps home buyers restructure loans during periods of financial hardship.