497 1 d688133d497.txt PROSPECTUS SUPPLEMENT - SELECTIONS SUPPLEMENT DATED MAY 1, 2019 TO PROSPECTUS DATED MAY 1, 2019 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 variable annuity prospectus. Specifically, this supplement provides updates with respect to the following: a. Notice Regarding Fund and Portfolio Shareholder Reports b. Fee Increase for Certain Living Benefit Riders Please read the supplement carefully and keep it with your prospectus for future reference. a. Notice Regarding Fund and Portfolio Shareholder Reports Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, we will no longer send you paper copies of shareholder reports for the Portfolios of the Funds offered under the contract ("Reports") unless you specifically request paper copies from us. Instead, the Reports will be made available on a website. We will notify you by mail each time a Report is posted. The notice will provide website links to access the Reports as well as instructions for requesting paper copies. If you wish to continue to receive Reports in paper free of charge from us, please call (800) 352-9910. Your election to receive Reports in paper will apply to all underlying Funds and Portfolios available under your contract. If you have already elected to receive Reports electronically, you will not be affected by this change and you need not take any action. If you wish to receive the Reports and other SEC disclosure documents from us electronically, please contact us at (800) 352-9910 or visit genworth.com to register. b. Fee Increase for Certain Living Benefit Riders i. Fee Increase for Lifetime Income Plus Effective on and after July 15, 2019, the charge for the Lifetime Income Plus guaranteed withdrawal benefit rider will increase, on an annual basis, to 1.25% upon a reset of the Withdrawal Base. The rider charge increase applies to both single and joint annuitant contracts regardless of the date the contract or rider was issued. Impacted contract owners will receive written notice in advance of their contract anniversaries informing them of their options as well as a discussion of certain circumstances in which a reset would not be in their best interest. Contract owners whose riders automatically reset will have the opportunity to opt-out of the automatic reset and the resulting rider charge increase. Contract owners who have to request a manual reset will have the opportunity to reset and, if they do reset, will incur the higher rider charge. We reserve the right to discontinue sending written notice of the potential impact of a reset after we send the first notice. 19779 SUPP 5/1/19 ii.Fee Increase for Lifetime Income Plus 2007 Effective on and after July 15, 2019, the charge for the Lifetime Income Plus 2007 guaranteed withdrawal benefit rider will increase, on an annual basis, to 1.25% upon a reset of the Withdrawal Base. The rider charge increase applies to both single and joint annuitant contracts regardless of the date the contract or rider was issued. Impacted contract owners will receive written notice in advance of their contract anniversaries informing them of their options as well as a discussion of certain circumstances in which a reset would not be in their best interest. Contract owners whose riders automatically reset will have the opportunity to opt-out of the automatic reset and the resulting rider charge increase. Contract owners who have to request a manual reset will have the opportunity to reset and, if they do reset, will incur the higher rider charge. We reserve the right to discontinue sending written notice of the potential impact of a reset after we send the first notice. If there is an automatic reset, your Withdrawal Base will be increased to your Contract Value. The Withdrawal Base, however, is just one element used to calculate your Withdrawal Limit. If your Withdrawal Base resets but your Roll-Up Value is higher than your Withdrawal Base on the date of reset, the Roll-Up Value will be used to determine your Withdrawal Limit, but you will be assessed a rider charge of 1.25% because of the reset of the Withdrawal Base. In this circumstance, if your rider fee was less than 1.25% before the reset, you will pay a higher rider fee for a benefit that you would have received even without the reset.