Issued by Genworth Life and Annuity Insurance Company

GFWM makes the asset allocation models available for your
use. Subject to your ability to impose reasonable restrictions on
the management of the Account, the assets in your Account are
required to remain invested at all times in accordance with one
of the designated asset allocation models as discussed in this
prospectus or your Certificate may terminate and your
guarantee may be reduced to zero. GFWM is an affiliate of the
Company, but neither we nor GFWM manage the Account.
Your Account is managed by your designated financial advisor
and administered by a custodian.
How much will your Certificate cost
While your Certificate is in force, an asset charge (the “Asset
Charge”) is periodically calculated and deducted from your
Account Value. The Asset Charge is calculated as a specified
percentage of your Account Value at the time the Asset Charge
is calculated.
The Asset Charge pays for the insurance protections provided
by the Certificate.
The guaranteed maximum Asset Charge we can ever charge for
your Certificate is shown below. We currently charge a lower
amount, which is also shown below. For an explanation of
when we could increase the Asset Charge under your
Certificate, see “Will you pay the same amount (in dollars) for
the Withdrawal Guarantee every quarter”
The guaranteed maximum Asset Charge for the Certificate,
as a percentage of your Account Value, on an annual basis,
is:
If You
have a
Balanced
Asset
Allocation
Model
If You
have a
Balanced
Growth
Asset
Allocation
Model
Single Participant 2.00% 2.50%
Joint Participants (provides protection
during the lives of two spouses) 2.25% 2.75%
The current Asset Charge for the Certificate, as a percentage of
your Account Value on an annual basis, is:
If You
have a
Balanced
Asset
Allocation
Model
If You
have a
Balanced
Growth
Asset
Allocation
Model
Single Participant 0.85% 1.10%
Joint Participants (provides protection
during the lives of two spouses) 1.00% 1.25%
Detailed examples of how the Asset Charge is calculated in
different circumstances are set forth in the section of this
prospectus entitled “Asset Charge.”
The Asset Charge is in addition to any charges that are imposed
in connection with advisory, custodial and other services, and
charges imposed by the mutual funds and exchange traded
funds in which your Account invests.
Premium taxes may be applicable in certain states. Premium tax
applicability and rates vary by state and may change. We
reserve the right to deduct any such tax from premium when
received.
Can you cancel your Certificate
You have the right to cancel your Certificate at any time
without additional charges. We will return the portion of the
Asset Charge collected in advance for the current billing period
relating to the number of days remaining in the billing period.
What protection does the Certificate provide
The Certificate provides two fundamental protections to
GFWM Program clients against risks that are important to
clients who consider the assets in their Account a source or
potential source for lifetime income in retirement or for other
long-term purposes. First, it protects the Certificate Owner from
the risk of outliving the assets in the Account. This risk is often
called “longevity risk.” Second, it protects the Owner from
downward fluctuations in his or her retirement income due to
changes in market performance. This is known as “income
volatility risk.”
Both of these risks increase when you have poor market
performance early in retirement. The risk of retiring on the eve
of a down market (or “point-in-time risk”) contributes greatly to
both longevity and income volatility risk.
The Certificate does not provide a guarantee that your Account
will retain a certain value or that the value of your Account will
remain steady or grow over time. Instead, it provides for a
guarantee, under certain specified conditions, that regardless of
the performance of the assets in your Account and regardless of
how long you live, you will be able to receive a guaranteed
level of annual income for life. Therefore, it is important for you
to understand that while the preservation of capital may be one
of the goals of the underlying asset management strategy of
your Account, the achievement of that goal is not guaranteed by
this product.
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