The Phoenix Companies Inc. (NYSE: PNX) introduced the Phoenix Personal Protection Choice Annuity, a single premium fixed indexed annuity. For an additional fee, annuity holders can combine up to three different benefits, including lifetime income, chronic care and an enhanced death benefit, to create a customized solution. Designed for individuals approaching or already in retirement, the annuity includes six indexed accounts, a fixed account and principal protection from investment loss.

Issued by PHL Variable Insurance Co., a Phoenix insurance subsidiary, the product is available through independent distributors working with Saybrus Partners.

Personal Protection Choice offers flexibility to combine the income protection benefit with the care protection and/or the family protection benefits. The income protection benefit provides a guaranteed lifetime withdrawal benefit that offers income enhancing features depending on when the client will first need income. The care protection benefit provides an enhanced withdrawal benefit for up to five years in the event that the annuity holder is unable to perform two of six Activities of Daily Living and is confined to a nursing home or receiving care at home.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.