Originally Posted by DHK
The company still has an A- rating according to A.M. Best... which is still covered by your E&O and still an "excellent ability to meet claims".
If it were me, I wouldn't worry about it... unless you made a really big deal about Genworth's ratings when you were selling this.
Thank you for your response. I wrote this policy before the rate changes. Client really liked the bailout provision (2.7%). I just need to make sure they gave us the rates prior to 01/28.
If the rates are lowered, as well as the bail-out rate, could I switch him to another carrier without creating a taxable event? I am familiar with qualified funds transfers, 1035, roll-overs, etc. but I never had to transfer the money within the free-look period(as if the policy never existed). I don't want them to send the money back to the original custodian.