Genworth Financial Inc. yesterday announced a new annuity product addition, SecureLiving Rate Saver, to be issued by Genworth Life and Annuity Insurance Co. A fixed, single-premium deferred annuity with market value adjustment, it is designed to offer consumers a secure retirement option in a product with competitive rates.

"Increasingly, consumers are looking for a 'CD alternative' product that can provide consistent growth during turbulent market conditions," said Chris Grady, president, distribution and marketing, U.S. life companies.

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