-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OwLh7eaNuq953bDazX2r/qNmz7a97OPeGaavmAIJ0wjBVtcD99WqWP0PMkBisU2/ Szrj0SKyTtyOLJvBsomD2Q== 0001193125-08-078858.txt : 20080410 0001193125-08-078858.hdr.sgml : 20080410 20080410142141 ACCESSION NUMBER: 0001193125-08-078858 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080410 DATE AS OF CHANGE: 20080410 EFFECTIVENESS DATE: 20080410 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Genworth Life & Annuity VA Separate Account 1 CENTRAL INDEX KEY: 0000822616 IRS NUMBER: 540283385 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-31172 FILM NUMBER: 08749660 BUSINESS ADDRESS: STREET 1: 6610 WEST BROAD STREET CITY: RICHMOND STATE: VA ZIP: 23230 BUSINESS PHONE: 804-281-6000 MAIL ADDRESS: STREET 1: 6610 WEST BROAD STREET CITY: RICHMOND STATE: VA ZIP: 23230 FORMER COMPANY: FORMER CONFORMED NAME: GE LIFE & ANNUITY ASSURANCE CO IV DATE OF NAME CHANGE: 19981231 FORMER COMPANY: FORMER CONFORMED NAME: LIFE OF VIRGINIA SEPARATE ACCOUNT 4 DATE OF NAME CHANGE: 19920703 0000822616 S000009727 Genworth Life & Annuity VA Separate Account 1 C000026712 RetireReady(SM) Choice VA 497 1 d497.txt 497 SUPPLEMENT DATED APRIL 10, 2008 TO PROSPECTUS DATED MAY 1, 2007 FOR FLEXIBLE PREMIUM VARIABLE DEFERRED ANNUITY CONTRACTS ISSUED BY GENWORTH LIFE AND ANNUITY INSURANCE COMPANY THROUGH ITS GENWORTH LIFE & ANNUITY VA SEPARATE ACCOUNT 1 This supplement updates certain information contained in your prospectus. Please read it and keep it with your prospectus for future reference. On March 18, 2008, the Board of Trustees (the "Board") for the XTF Advisors Trust (the "Trust") voted to liquidate the ETF 60 Portfolio (the "Portfolio"). The Board concluded that the Portfolio should cease operations due to its relatively small asset size and insufficient evidence of future asset growth opportunities. In accordance with the Board's decision to terminate operations, beginning on May 1, 2008, the Portfolio will no longer accept any purchase orders in anticipation of a final liquidation of the Portfolio on June 20, 2008. Assets held by the Separate Account invested in the Portfolio will be transferred at the close of trading on the New York Stock Exchange on June 20, 2008, to the GE Investments Funds, Inc. -- Money Market Fund. You may make transfers from the Portfolio to one or more of the Subaccounts investing in the Portfolios listed below. Please note, however, that the Portfolio is also part of the Investment Strategy for certain of the living benefit rider options. The benefits a contract owner receives under these living benefit riders may be reduced if, after the transfer, the owner's assets are not allocated in accordance with the prescribed Investment Strategy for the rider. Contract owners that own Lifetime Income Plus 2008 must always allocate assets in accordance with the Investment Strategy. The current Investment Strategy for the living benefit riders (excluding the ETF 60 Portfolio) is also provided below. Transfers made from the Portfolio during the period of April 10, 2008 to June 20, 2008 will not be considered a transfer for the purpose of calculating the number of transfers that may be made each calendar year without invoking our right to assess a transfer charge or for purposes of calculating the number of transfers that can be made each calendar year by U.S. Mail, voice response, telephone or facsimile. 19774 SUPPD 04/10/08
Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) ------------------------------------------------------------------------------------------------ AIM VARIABLE AIM V.I. Basic Value Fund -- Seeks to provide long-term growth of A I M Advisors, Inc. INSURANCE FUNDS Series II shares capital. ------------------------------------------------------------------------------------------------ AIM V.I. Capital Appreciation Seeks to provide growth of capital. A I M Advisors, Inc. Fund -- Series I shares ------------------------------------------------------------------------------------------------ AIM V.I. Core Equity Fund -- Seeks to provide growth of capital. A I M Advisors, Inc. Series I shares ------------------------------------------------------------------------------------------------ AIM V.I. International Growth Seeks to provide long-term growth of A I M Advisors, Inc. Fund -- Series II shares capital. ------------------------------------------------------------------------------------------------ ALLIANCEBERNSTEIN AllianceBernstein Balanced Seeks to maximize total return AllianceBernstein, L.P. VARIABLE PRODUCTS Wealth Strategy Portfolio -- consistent with the adviser's SERIES FUND, INC. Class B determination of reasonable risk ------------------------------------------------------------------------------------------------ AllianceBernstein Global Long-term growth of capital. AllianceBernstein, L.P. Technology Portfolio -- Class B ------------------------------------------------------------------------------------------------ AllianceBernstein Growth and Long-term growth of capital. AllianceBernstein, L.P. Income Portfolio -- Class B ------------------------------------------------------------------------------------------------ AllianceBernstein International Long-term growth of capital. AllianceBernstein, L.P. Value Portfolio -- Class B ------------------------------------------------------------------------------------------------ AllianceBernstein Large Cap Long-term growth of capital. AllianceBernstein, L.P. Growth Portfolio -- Class B ------------------------------------------------------------------------------------------------ AllianceBernstein Small Cap Long-term growth of capital. AllianceBernstein, L.P. Growth Portfolio -- Class B ------------------------------------------------------------------------------------------------ AMERICAN CENTURY VP Inflation Protection Fund -- Pursues long-term total return using American Century VARIABLE PORTFOLIOS II, Class II a strategy that seeks to protect Investment Management, INC. against U.S. inflation. Inc. ------------------------------------------------------------------------------------------------ BLACKROCK VARIABLE BlackRock Basic Value V.I. Seeks capital appreciation, and BlackRock Advisors, LLC SERIES FUNDS, INC. Fund -- Class III Shares secondarily, income. (subadvised by BlackRock Investment Management, LLC) ------------------------------------------------------------------------------------------------ BlackRock Global Allocation Seeks high total investment return. BlackRock Advisors, LLC V.I. Fund -- Class III Shares (subadvised by BlackRock Investment Management, LLC and BlackRock Asset Management U.K. Limited) ------------------------------------------------------------------------------------------------ BlackRock Large Cap Growth Seeks long-term capital growth. BlackRock Advisors, LLC V.I. Fund -- Class III Shares (subadvised by BlackRock Investment Management, LLC) ------------------------------------------------------------------------------------------------ BlackRock Value Opportunities Seeks long-term growth of capital. BlackRock Advisors, LLC V.I. Fund -- Class III Shares (subadvised by BlackRock Investment Management, LLC) ------------------------------------------------------------------------------------------------ COLUMBIA FUNDS Columbia Marsico Growth The fund seeks long-term growth of Columbia Management VARIABLE INSURANCE Fund, Variable Series -- Class A capital. Advisors, LLC (subadvised TRUST I by Marsico Capital Management, LLC) ------------------------------------------------------------------------------------------------ Columbia Marsico International The fund seeks long-term growth of Columbia Management Opportunities Fund, Variable capital. Advisors, LLC (subadvised Series -- Class B by Marsico Capital Management, LLC) ------------------------------------------------------------------------------------------------
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Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) ------------------------------------------------------------------------------------------------- EATON VANCE VARIABLE VT Floating-Rate Income Fund To provide a high level of current Eaton Vance Management TRUST income. ------------------------------------------------------------------------------------------------- VT Worldwide Health Sciences Seeks long-term capital growth by OrbiMed Advisors, LLC Fund investing in a worldwide and diversified portfolio of health sciences companies. ------------------------------------------------------------------------------------------------- EVERGREEN VARIABLE Evergreen VA Omega Fund -- Seeks long term capital growth. Evergreen Investment ANNUITY TRUST Class 2 Management Company, LLC ------------------------------------------------------------------------------------------------- FEDERATED INSURANCE Federated High Income Bond Seeks high current income by Federated Investment SERIES Fund II -- Service Class investing in lower-rated corporate Management Company debt obligations, commonly referred to as "junk bonds." ------------------------------------------------------------------------------------------------- Federated Kaufmann Fund II -- Seeks capital appreciation. Federated Equity Service Shares Management Company of Pennsylvania (subadvised by Federated Global Investment Management Corp.) ------------------------------------------------------------------------------------------------- FIDELITY(R) VARIABLE VIP Balanced Portfolio -- Service Seeks income and capital growth Fidelity Management & INSURANCE PRODUCTS Class 2 consistent with reasonable risk. Research Company (FMR) FUND (subadvised by Fidelity Investments Money Management, Inc. (FIMM), FMR Co., Inc. (FMRC), Fidelity Research & Analysis Company (FRAC), Fidelity Management & Research (U.K.) Inc. (FMR U.K.), Fidelity International Investment Advisors (FIAA), Fidelity International Investment Advisors (U.K.) Limited (FIAA(U.K.)L), and Fidelity Investments Japan Limited (FIJ)) ------------------------------------------------------------------------------------------------- VIP Contrafund(R) Portfolio -- Seeks long-term capital FMR (subadvised by Service Class 2 appreciation. FMRC, FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------------- VIP Dynamic Capital Appreciation Seeks capital appreciation. FMR (subadvised by Portfolio -- Service Class 2 FMRC, FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------------- VIP Equity-Income Portfolio -- Seeks reasonable income. The fund FMR (subadvised by Service Class 2 will also consider the potential for FMRC, FRAC, FMR U.K., capital appreciation. The fund's FIIA, FIIA(U.K.)L, and goal is to achieve a yield which FIJ) exceeds the composite yield on the securities comprising the Standard & Poor's 500/SM/ Index (S&P 500(R)). -------------------------------------------------------------------------------------------------
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Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) ------------------------------------------------------------------------------------------------ VIP Growth Portfolio -- Seeks to achieve capital FMR (subadvised by Service Class 2 appreciation. FMRC, FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------------ VIP Growth & Income Portfolio Seeks high total return through a FMR (subadvised by -- Service Class 2 combination of current income and FMRC, FRAC, FMR U.K., capital appreciation. FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------------ VIP Investment Grade Bond Seeks as high a level of current FMR (subadvised by Portfolio -- Service Class 2 income as is consistent with the FRAC, FIIA and preservation of capital. FIIA(U.K.)L) ------------------------------------------------------------------------------------------------ VIP Mid Cap Portfolio -- Seeks long-term growth of capital. FMR (subadvised by Service Class 2 FMRC, FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------------ VIP Value Strategies Portfolio -- Seeks capital appreciation. FMR (subadvised by Service Class 2 FMRC, FRAC, FMR U.K., FIIA, FIIA(U.K.)L, and FIJ) ------------------------------------------------------------------------------------------------ FRANKLIN TEMPLETON Franklin Income Securities Seeks to maximize income while Franklin Advisers, Inc. VARIABLE INSURANCE Fund -- Class 2 Shares maintaining prospects for capital PRODUCTS TRUST appreciation. The fund normally invests in both equity and debt securities. The fund seeks income by investing in corporate, foreign and U.S. Treasury bonds as well as stocks with dividend yields the manager believes are attractive. ------------------------------------------------------------------------------------------------ Franklin Templeton VIP Founding The fund's principal investment Franklin Templeton Funds Allocation Fund -- Class 2 goal is capital appreciation. Its Services, LLC (the fund's Shares secondary goal is income. administrator) ------------------------------------------------------------------------------------------------ Mutual Shares Securities Fund -- Seeks capital appreciation, with Franklin Mutual Advisers, Class 2 Shares income as a secondary goal. The LLC fund normally invests primarily in equity securities of companies the manager believes are undervalued. The fund also invests, to a lesser extent in risk arbitrage securities and distressed companies. ------------------------------------------------------------------------------------------------ Templeton Growth Securities Seeks long-term capital growth. Templeton Global Advisors Fund -- Class 2 Shares The fund normally invests Limited primarily in equity securities of companies located anywhere in the world, including those in the U.S. and in emerging markets. ------------------------------------------------------------------------------------------------ GE INVESTMENTS Income Fund Seeks maximum income consistent GE Asset Management FUNDS, INC. with prudent investment Incorporated management and the preservation of capital. ------------------------------------------------------------------------------------------------ Mid-Cap Equity Fund Seeks long-term growth of capital GE Asset Management and future income. Incorporated ------------------------------------------------------------------------------------------------
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Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) ------------------------------------------------------------------------------------------------ Money Market Fund/1/ Seeks a high level of current GE Asset Management income consistent with the Incorporated preservation of capital and the maintenance of liquidity. ------------------------------------------------------------------------------------------------ Premier Growth Equity Fund Seeks long-term growth of capital GE Asset Management and future income rather than Incorporated current income. ------------------------------------------------------------------------------------------------ Real Estate Securities Fund Seeks maximum total return GE Asset Management through current income and capital Incorporated (subadvised appreciation. by Urdang Securities Management, Inc.) ------------------------------------------------------------------------------------------------ S&P 500(R) Index Fund/2/ Seeks growth of capital and GE Asset Management accumulation of income that Incorporated (subadvised corresponds to the investment by SSgA Funds return of S&P's 500 Composite Management, Inc.) Stock Index. ------------------------------------------------------------------------------------------------ Small-Cap Equity Fund Seeks long-term growth of capital. GE Asset Management Incorporated (subadvised by Palisade Capital Management, L.L.C.) ------------------------------------------------------------------------------------------------ Total Return Fund/3/ Seeks the highest total return GE Asset Management composed of current income and Incorporated capital appreciation, as is consistent with prudent investment risk. ------------------------------------------------------------------------------------------------ U.S. Equity Fund Seeks long-term growth of capital. GE Asset Management Incorporated ------------------------------------------------------------------------------------------------ Value Equity Fund Seeks long-term growth of capital GE Asset Management and future income. Incorporated ------------------------------------------------------------------------------------------------ JANUS ASPEN SERIES Balanced Portfolio -- Service Seeks long-term capital growth, Janus Capital Shares consistent with preservation of Management LLC capital and balanced by current income. ------------------------------------------------------------------------------------------------ Forty Portfolio -- Service Shares A non-diversified portfolio/4/ that Janus Capital seeks long-term growth of capital. Management LLC ------------------------------------------------------------------------------------------------
/1/ During extended periods of low interest rates, the yields of the Money Market Fund may become extremely low and possibly negative. /2/ "Standard & Poor's," "S&P," and "S&P 500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by GE Asset Management Incorporated. The S&P 500(R) Index Fund is not sponsored, endorsed, sold or promoted by Standard & Poor's, and Standard & Poor's makes no representation or warranty, express or implied, regarding the advisability of investing in this portfolio or the contract. /3/ For contracts issued on or after May 1, 2006, only Class 3 Shares of the Total Return Fund will be available. If your contract was issued prior to May 1, 2006, Class 1 Shares of the Total Return Fund are available. /4/ A non-diversified portfolio is a portfolio that may hold a larger position in a smaller number of securities than a diversified portfolio. This means that a single security's increase or decrease in value may have a greater impact on the return and the net asset value of a non-diversified portfolio than a diversified portfolio. 5
Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) -------------------------------------------------------------------------------------------------- LEGG MASON PARTNERS Legg Mason Partners Variable Seeks capital appreciation. Legg Mason Partners Fund VARIABLE EQUITY Aggressive Growth Portfolio -- Advisor, LLC (subadvised TRUST/1/ Class II by ClearBridge Advisors, LLC) -------------------------------------------------------------------------------------------------- Legg Mason Partners Variable Seeks capital appreciation through Legg Mason Partners Fund Fundamental Value Portfolio -- investments. Advisor, LLC (subadvised Class I by ClearBridge Advisors, LLC) -------------------------------------------------------------------------------------------------- MFS(R) VARIABLE MFS(R) Investors Growth Stock The fund's investment objective is Massachusetts Financial INSURANCE TRUST Series -- Service Class Shares to seek capital appreciation. The Services Company fund's objective may be changed without shareholder approval. -------------------------------------------------------------------------------------------------- MFS(R) Investors Trust Series -- The fund's investment objective is Massachusetts Financial Service Class Shares to seek capital appreciation. The Services Company fund's objective may be changed without shareholder approval. -------------------------------------------------------------------------------------------------- MFS(R) Total Return Series -- The fund's investment objective is Massachusetts Financial Service Class Shares to seek total return. The fund's Services Company objective may be changed without shareholder approval. -------------------------------------------------------------------------------------------------- MFS(R) Utilities Series -- Service The fund's investment objective is Massachusetts Financial Class Shares to seek total return. The fund's Services Company objective may be changed without shareholder approval. -------------------------------------------------------------------------------------------------- OPPENHEIMER VARIABLE Oppenheimer Balanced Fund/VA Seeks a high total investment OppenheimerFunds, Inc. ACCOUNT FUNDS -- Service Shares return, which includes current income and capital appreciation in the value of its shares. -------------------------------------------------------------------------------------------------- Oppenheimer Capital Seeks capital appreciation by OppenheimerFunds, Inc. Appreciation Fund/VA -- Service investing in securities of well- Shares known established companies. -------------------------------------------------------------------------------------------------- Oppenheimer Global Securities Seeks long-term capital OppenheimerFunds, Inc. Fund/VA -- Service Shares appreciation by investing a substantial portion of its assets in securities of foreign issuers, "growth-type" companies, cyclical industries and special situations that are considered to have appreciation possibilities. -------------------------------------------------------------------------------------------------- Oppenheimer Main Street Fund/ Seeks high total return (which OppenheimerFunds, Inc. VA -- Service Shares includes growth in the value of its shares as well as current income) from equity and debt securities. -------------------------------------------------------------------------------------------------- Oppenheimer Main Street Small Seeks capital appreciation. OppenheimerFunds, Inc. Cap Fund/VA -- Service Shares -------------------------------------------------------------------------------------------------- Oppenheimer MidCap Fund/VA Seeks capital appreciation by OppenheimerFunds, Inc. -- Service Shares investing in "growth type" companies. --------------------------------------------------------------------------------------------------
/1/ Legg Mason executed a reorganization of its fund operations effective April 28, 2007. As a result of this reorganization, Legg Mason Partners Variable Portfolios II -- Legg Mason Partners Variable Aggressive Growth Portfolio merged into Legg Mason Partners Variable Equity Trust -- Legg Mason Partners Variable Aggressive Growth Portfolio and Legg Mason Partners Variable Portfolios I, Inc. -- Legg Mason Partners Variable All Cap Portfolio merged into Legg Mason Partners Variable Equity Trust -- Legg Mason Partners Variable Fundamental Value Portfolio. 6
Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) ------------------------------------------------------------------------------------------------- PIMCO VARIABLE All Asset Portfolio -- Advisor Seeks maximum real return Pacific Investment INSURANCE TRUST Class Shares consistent with preservation of real Management Company capital and prudent investment LLC management. ------------------------------------------------------------------------------------------------- High Yield Portfolio -- Seeks maximum total return, Pacific Investment Administrative Class Shares consistent with preservation of Management capital and prudent investment Company LLC management. Invests at least 80% of its assets in a diversified portfolio of high yield securities ("junk bonds") rated below investment grade but rated at least Caa by Moody's or CCC by S&P, or, if unrated, determined by PIMCO to be of comparable quality, subject to a maximum of 5% of its total assets in securities rated Caa by Moody's or CCC by S&P, or, if unrated, determined by PIMCO to be of comparable quality. ------------------------------------------------------------------------------------------------- Long-Term U.S. Government Seeks maximum total return, Pacific Investment Portfolio -- Administrative Class consistent with preservation of Management Shares capital and prudent investment Company LLC management. ------------------------------------------------------------------------------------------------- Low Duration Portfolio -- Seeks maximum total return, Pacific Investment Administrative Class Shares consistent with preservation of Management Company capital and prudent investment LLC management. ------------------------------------------------------------------------------------------------- Total Return Portfolio -- Seeks maximum total return, Pacific Investment Administrative Class Shares consistent with preservation of Management capital and prudent investment Company LLC management. ------------------------------------------------------------------------------------------------- THE PRUDENTIAL SERIES Jennison Portfolio -- Class II Seeks long-term growth of capital. Prudential Investments FUND LLC (subadvised by Jennison Associates LLC) ------------------------------------------------------------------------------------------------- Jennison 20/20 Focus Portfolio -- Seeks long-term growth of capital. Prudential Investments Class II LLC (subadvised by Jennison Associates LLC) ------------------------------------------------------------------------------------------------- Natural Resources Portfolio -- Seeks long-term growth of capital. Prudential Investments Class II LLC (subadvised by Jennison Associates LLC) ------------------------------------------------------------------------------------------------- RYDEX VARIABLE OTC Fund/1/ Seeks to provide investment results Rydex Investments TRUST that correspond to a benchmark for over-the-counter securities. The fund's current benchmark is the NASDAQ 100 Index(TM). ------------------------------------------------------------------------------------------------- THE UNIVERSAL Equity and Income Portfolio -- Seeks both capital appreciation and Morgan Stanley Investment INSTITUTIONAL FUNDS, Class II Shares current income. Management Inc. INC. -------------------------------------------------------------------------------------------------
/1/ The NASDAQ 100 Index(TM) is an unmanaged index that is a widely recognized indicator of OTC Market performance. 7
Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) -------------------------------------------------------------------------------------------- VAN KAMPEN LIFE Comstock Portfolio -- Class II Seeks capital growth and income Van Kampen Asset INVESTMENT TRUST Shares through investments in equity Management securities, including common stocks, preferred stocks and securities convertible into common and preferred stocks. --------------------------------------------------------------------------------------------
The following Portfolios are not available to contracts issued on or after May 1, 2006:
Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) ------------------------------------------------------------------------------------------- FIDELITY(R) VARIABLE VIP Asset Manager/SM/ Seeks to obtain high Fidelity Management & Research INSURANCE PRODUCTS Portfolios -- total return with Company (FMR) (subadvised by FUND Service Class 2 reduced risk over the Fidelity Investments Money long term by allocating Management, Inc. (FIMM), FMR its assets among stocks, Co., Inc. (FMRC), Fidelity Research bonds, and short-term & Analysis Company (FRAC), instruments. Fidelity Management & Research (U.K.) Inc. (FMR U.K.), Fidelity International Investment Advisors (FIAA), Fidelity International Investment Advisors (U.K.) Limited (FIAA(U.K.)L), and Fidelity Investments Japan Limited (FIJ)) ------------------------------------------------------------------------------------------- GOLDMAN SACHS VARIABLE Goldman Sachs Mid Cap Value Seeks long-term capital Goldman Sachs Asset Management, INSURANCE TRUST Fund appreciation. L.P. ------------------------------------------------------------------------------------------- MFS(R) VARIABLE MFS(R) New Discovery Series -- The fund's investment Massachusetts Financial Services INSURANCE TRUST Service Class Shares objective is to seek Company capital appreciation. The fund's objective may be changed without shareholder approval. -------------------------------------------------------------------------------------------
The following Portfolios are not available to contracts issued on or after May 1, 2007:
Adviser (and Sub- Subaccount Investing In Investment Objective Adviser(s), as applicable) ----------------------------------------------------------------------------------------------- LEGG MASON PARTNERS Legg Mason Partners Variable Seeks total return and a combination Legg Mason Partners Fund VARIABLE EQUITY Capital and Income Portfolio -- of income and long-term capital Advisor, LLC (subadvised TRUST/1/ Class II appreciation. by ClearBridge Advisors, LLC and Western Asset Management Company) ----------------------------------------------------------------------------------------------- VAN KAMPEN LIFE Strategic Growth Portfolio -- Seeks capital appreciation. Van Kampen Asset INVESTMENT TRUST Class II Shares Management -----------------------------------------------------------------------------------------------
/1/ Legg Mason executed a reorganization of its fund operations effective April 28, 2007. As a result of this reorganization, Legg Mason Partners Variable Portfolios I, Inc. -- Legg Mason Partners Variable Total Return Portfolio merged into Legg Mason Partners Variable Equity Trust -- Legg Mason Partners Variable Capital and Income Portfolio. 8 The current Investment Strategy for the living benefit riders is as follows: (1) owners may allocate assets to the following Designated Subaccounts: AllianceBernstein Variable Products Series Fund, Inc. -- AllianceBernstein Balanced Wealth Strategies Portfolio -- Class B BlackRock Variable Series Funds, Inc. -- BlackRock Global Allocation V.I. Fund -- Class III Shares; Fidelity Variable Insurance Products Fund -- VIP Balanced Portfolio -- Service Class 2; Franklin Templeton Variable Insurance Products Trust -- Franklin Income Securities Fund -- Class 2 Shares; Franklin Templeton Variable Insurance Products Trust -- Franklin Templeton VIP Founding Funds Allocation Fund -- Class 2 Shares GE Investments Funds, Inc. -- Total Return Fund -- Class 3 Shares; Janus Aspen Series -- Balanced Portfolio -- Service Shares; MFS(R) Variable Insurance Trust -- MFS(R) Total Return Series -- Service Class Shares; Oppenheimer Variable Account Funds -- Oppenheimer Balanced Fund/VA -- Service Shares; and/or The Universal Institutional Funds, Inc. -- Equity and Income Portfolio -- Class II Shares; OR (2) for owners who have elected Lifetime Income Plus 2008, owners may allocate assets to Asset Allocation Model A, B, C or D; or for owners who have elected another living benefit rider, owners may allocate assets to Asset Allocation Model C. Not all of these Portfolios may be available in all states or all markets. Prospectuses for the Portfolios listed above may be obtained free of charge from our Home Office by calling: 800 352.9910 or by writing: Genworth Life and Annuity Insurance Company 6610 West Broad Street Richmond, Virginia 23230 Please be sure to include your name, the Annuitant's name, your contract number and your current mailing address on any written correspondence so that we may be sure the correct prospectuses are mailed to you. 9 -----END PRIVACY-ENHANCED MESSAGE-----