Carrier

Genworth secondary market annuities

Genworth is a United States insurance company that has issued structured settlement annuities. As with any carrier, the relevant question is the issuer's current financial strength, which is shown on each listing, so review it before you commit.

Genworth Life and Annuity Insurance Company · Jamestown Life Insurance Company

Issuing HQ: Lynchburg, Virginia
Parent: Genworth Financial, Inc.

See current inventory How the safety compares

What it means

Backed by Genworth

When a payment stream is backed by Genworth, the scheduled payments are that carrier's obligation. You are buying the right to receive those payments — transferred through a court-approved process — at a discount, not a new insurance contract, and the difference between what you pay and what you collect is your yield. Read more about the asset itself on our secondary market annuities guide.

Because the income depends on Genworth continuing to pay, the carrier's financial strength is your protection. These payment rights are not FDIC-insured and generally are not covered by a state guaranty association, so we place only top-rated carriers and show the current rating on every listing. Where a Genworth-backed stream sits against CDs, Treasuries, and new annuities is laid out on our comparison page.

The company

A brief history

Genworth Life and Annuity Insurance Company, based in Lynchburg, Virginia, issued a substantial book of structured settlement annuities — contracts whose numbers often begin with "K." Its affiliate Jamestown Life Insurance Company frequently appears as the contract owner on settlement paperwork, with a Genworth assignment entity handling the qualified assignment; all sit under Genworth Financial.

Genworth's financial-strength ratings have in recent years run below those of the other major settlement issuers, which is why pricing on Genworth-backed streams typically reflects a wider yield than comparable paper from the top-rated carriers. That trade-off — more yield for a weaker rating — should be a deliberate choice: review the current rating shown on the listing, not the historical reputation, before you commit.

Genworth payment stream questions

Why do Genworth-backed streams often show higher estimated yields?

Pricing reflects the issuer's credit standing, and Genworth's ratings have run below the other major settlement writers in recent years. A buyer is being compensated for accepting a weaker rating — the current rating appears on each listing so you can judge that trade-off explicitly.

Are Genworth secondary market annuities safe?

The payments on a Genworth-backed stream are that carrier's obligation, so its financial strength is your protection. These payment rights are not FDIC-insured and generally are not covered by a state guaranty association, which is why we place only top-rated carriers and show Genworth's current rating on every listing. Review the issuer's rating before you commit.

How do I buy a Genworth payment stream?

Browse current inventory, and when a Genworth-backed listing fits, reserve it by its contract number. The right to receive the payments is assigned to you through a court-approved transfer, and the scheduled payments then arrive direct to you. Registering a free account unlocks full terms and investor pricing.

What yield do Genworth-backed streams pay?

Effective yields on current inventory run roughly 4 to 7 percent, depending on the category, the term, and the specific listing rather than on the carrier alone. Each Genworth listing shows its own yield, purchase price, and full payment schedule.

What these assets are, and what they are not

Guaranteed and life-contingent structured settlement payment rights, and lottery payment rights, represent the right to receive factored payments that Pacific Structured Assets purchases and assigns to investors through a court-approved process. They are purchased at a discount to their total scheduled payments.

These payment rights are NOT annuities, NOT insurance products, and NOT securities registered with the U.S. Securities and Exchange Commission. They are not bank deposits, are not FDIC-insured, and are not protected by any state insurance guaranty association. The industry term “secondary market annuity” refers to these payment rights and does not mean you are purchasing an insurance annuity contract.

You acquire the right to receive the payments, not the underlying annuity. The annuity itself does not change hands. Unlike the original structured settlement annuity, which may be shielded from creditors under applicable law, the assigned payment rights you purchase generally do not carry that creditor or bankruptcy protection.

Assigned annuities, offered as a separate product line, are existing insurance annuity contracts reassigned to a new owner through a change of ownership or an irrevocable change of payee.

These are long-term holdings with limited liquidity, and may not be suitable for every investor. There is no public trading market and no daily price. Resale or reassignment of a payment stream to another buyer may be possible, and Pacific Structured Assets can assist, but a resale is not guaranteed and the price it would bring is not guaranteed. Because the payments are fixed, that resale value moves with prevailing interest rates: an investor could realize a gain if rates have fallen since purchase, or a loss if rates have risen. These holdings are best suited to capital an investor can commit for the long term. Nothing on this website is tax, legal, financial, or investment advice. Consult your own advisors before investing.

Pacific Structured Assets, Inc. is an independent company. We are not affiliated with, endorsed by, sponsored by, or otherwise connected to any insurance company, annuity issuer, state lottery, or other payment obligor named on this website. Issuer and carrier names are used solely to identify the entity obligated to make the scheduled payments on a particular payment stream. All company names, trademarks, and service marks are the property of their respective owners; their appearance here is for identification purposes only and does not imply any partnership, agency, sponsorship, endorsement, or other business relationship. No issuer named on this website has reviewed, approved, or endorsed any of its content.

Pacific Structured Assets, Inc. does not provide tax, legal, financial or accounting advice. The material on this website has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, financial or accounting advice. You should consult your own tax, legal, financial or accounting advisors before engaging in any transaction, including the acquisition of factored structured settlement payments. Pacific Structured Assets is not registered with the Securities and Exchange Commission and is not licensed to sell insurance in any state.

Pacific Structured Assets

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