Issued by Genworth Life and Annuity Insurance Company

isk criteria required to maintain the guaranteed minimum
lifetime income benefits that may be provided by the
Certificate. Certificates are offered only to participants in the
GFWM Program whose assets are invested in accordance with
designated asset allocation models available under the GFWM
Program. The Certificates are designed for GFWM Program
participants who intend to use the investments in their Account
as the basis for periodic withdrawals (such as systematic
withdrawal programs involving regular annual withdrawals of a
certain percentage of the Account Value) to provide income
payments for retirement or for other purposes. For more
information about the GFWM Program, you should talk to your
Advisor and review the materials provided concerning the
GFWM Program.
As the owner of the group Contract under which the Certificates
are offered, GFWM is the entity responsible for administering the
Certificate on your behalf during the Account Phase. This
responsibility includes obtaining your instructions as to whether
you want to use your Account Value to purchase the “Alternative
Annuity Payment” option described later in this prospectus, and if
so, how you want payments to be made to you. You may elect to
purchase this Alternative Annuity Payment option at any time
before age 100 (or the younger Participant’s age 100). GFWM is
also responsible for transferring to us your Account Value at
the time you elect to purchase the Alternative Annuity Payment
option. GFWM and/or your custodian may require your written
authorization to complete this transfer. Any delay in providing
such authorization, if required, may delay your income payments.
GFWM makes available asset allocation models for your use and
administers your Certificate during the Account Phase of the
Certificate. GFWM is an affiliate of the Company, but neither we
nor GFWM manage your Account. Your account is managed by
your own investment adviser and administered by the custodian
of your GFWM Account.
The Certificate provides for a guaranteed income over the
remaining life of the Participant (or, if these are Joint Participants,
the remaining lives of both Joint Participants), based on the
Withdrawal Guarantee, should the Account Value drop below the
greater of your most recently determined Withdrawal Guarantee
and $20,000. Provided all contractual terms have been satisfied,
we will make continuing payments for the lifetime of the
Participant (or, if there are Joint Participants, for the lifetimes of
both Joint Participants) in the form of fixed annuity payments
equal to the Withdrawal Guarantee (or payments under the
Alternative Annuity Payment option amount if greater).
MANAGEMENT OF YOUR GFWM
ACCOUNT
The Certificate provides supplemental protection relating to
your GFWM Program investments by ensuring that,
regardless of how your investments actually perform or the
actual value of your investments when you begin your
withdrawal program from your GFWM Account for retirement
or other purposes, you will receive predictable income
payments for as long as you live.
The GFWM Program is offered through investment advisors
(each, an “Advisor”) who generally act as a client’s primary
contact with respect to the GFWM programs. The Advisor
evaluates the client’s needs and objectives, recommends a risk
return profile (“Risk-Return Profile”) (frequently through the
completion by the client of a “Discovery Workbook” provided
by GFWM), and consults with the client concerning the client’s
participation in the GFWM Program. The Advisor may also
recommend a specific asset allocation model.
You should note that the Company issues the Certificates, but the
Company is not your investment adviser and does not provide
investment advice to you in connection with the Certificate.
Asset allocation models that correspond to two Risk-Return
Profiles — the Balanced Risk-Return Profile and the Balanced
Growth Risk-Return Profile — are designated for use with the
Certificate. These two Risk-Return Profiles are designed with
several goals in mind. The Balanced Risk-Return Profile
corresponds to a “balanced” asset allocation strategy. The
Balanced Growth Risk-Return Profile corresponds to a
“balanced growth” allocation strategy.
The Balanced Risk-Return Profile is considered a balanced
allocation strategy and is designed for current income and
long-term capital appreciation. This Profile is broadly diversified,
with allocations to U.S. fixed income instruments to provide
current income and to U.S. and international equity instruments to
enhance diversification, protect the real value of principal and
enhance long-term returns. The target allocation mix is 60%
equities and 40% fixed income. The Balanced Growth Risk-
Return Profile is considered a balanced growth allocation and is
designed for long-term capital appreciation, with a secondary
objective of moderate current income. Assets are predominately
allocated to U.S. equity instruments to provide long-term capital
appreciation and to protect the real value of principal. International
instruments may be included to provide diversification and
enhance long-term returns. U.S. fixed income instruments may be
included to provide current income and diversification. The target
allocation mix is 75% equities and 25% fixed income investments.
Your Account Value is required to remain invested at all times
in accordance with an asset allocation model with the same
Risk-Return Profile as the model you select when you purchase
a Certificate. In other words, you may not switch between the
Balanced and the Balanced Growth Risk-Return Profiles and
still maintain the Withdrawal Guarantee. However, you may
switch from one Strategist’s asset allocation model to another
Strategist’s model that is within the same Risk-Return Profile.
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