Redesigned Simplified-Issue, Indexed Universal Life Insurance
Product to be Sold Through Select Distributors
HARTFORD, Conn.--(BUSINESS WIRE)--
Phoenix Companies, Inc. (NYSE: PNX) today announced a distribution
agreement with National
Agents Alliance (NAA) under which NAA agents can offer the
redesigned Phoenix Simplicity Index Life product to their client base.
Phoenix Simplicity Index Life (IUL) is a simplified-issue, indexed
universal life insurance product that provides universal life insurance
protection with an attractive ability to build cash value. Phoenix said
it will seek a limited number of additional distributors for Phoenix
Simplicity Index Life throughout 2012.
“We have been working with National Agents Alliance for the past year
developing this working relationship as well as redesigning the Phoenix
Simplicity Index Life product,” said Biff Baker, National Sales Manager
- Life Independent for Saybrus Partners, Phoenix’s distribution
subsidiary. “NAA has shown both commitment and excitement in
re-launching the Phoenix Simplicity Index Life product to the
marketplace. Both organizations are confident this product offers great
value while meeting continually changing consumer needs.”
This redesigned product contains several features that make it
attractive to consumers. Most notably, the simplified issue format
allows the entire underwriting process to be covered with a limited
number of questions, routine database checks and no invasive blood or
lab tests, versus the much lengthier standard underwriting process.
Phoenix Simplicity Index Life is the only product of its kind offered to
“We are very excited to bring the Phoenix Simplicity Index Life product
to the NAA platform,” said Andy Albright, President & CEO of National
Agents Alliance. “We believe this product’s unique set of features,
including cash accumulation potential without the risk of loss due to
market downturns, will resonate with those seeking a simpler and more
flexible life insurance solution.”
Phoenix Simplicity Index Life offers permanent death benefit protection
for those concerned about the financial security of a loved one, plus
the additional advantage of an indexed feature. Since index credits are
linked to the performance of the S&P 5001 Index, clients
are given the potential for higher earnings compared to fixed current
interest rates, in addition to protection against market downturns.
Interest and crediting rates are declared by Phoenix at the beginning of
each index “segment” and are subject to change.
Consumers can exchange pre-existing life insurance policies with Phoenix
Simplicity Index Life, a process known as a 1035 Exchange, after
consulting with a professional tax advisor regarding any tax
consequences this process may produce. If an exchange is suitable, the
consumer can trade in an existing policy for a more affordable one or
add a cash value component to their policy for loans and/or withdrawals.
To learn more about Phoenix Simplicity Index Life and other Phoenix
Companies life insurance and annuity products, agents, financial
advisors and other distributors can contact the Saybrus Sales Desk at
(888) 794-4447 option 1.
1 Standard & Poor’s®,” “S&P®,” “S&P 500®,”
“Standard & Poor’s 500” and “500” are trademarks of The McGraw-Hill
Companies, Inc. and have been licensed for use by Phoenix Life Insurance
Company and its affiliates. This policy is not sponsored, endorsed, sold
or promoted by Standard & Poor’s and Standard & Poor’s makes no
representation regarding the advisability of purchasing this policy. The
values of the S&P 500 Index used in this product exclude dividends.
Guarantees are based on the claims-paying ability of the issuing
Phoenix Simplicity Index Life (08IUL) is issued by PHL Variable Life
Insurance Company (PHLVIC) (Hartford, CT). PHLIVC is not authorized to
conduct business in New York and Maine. In New York and Maine, Phoenix
Simplicity Index Life is issued by Phoenix Life Insurance Company (East
Greenbush, NY). For California residents: Saybrus Partners, Inc. (dba
Saybrus Partners Insurance Agency in California), CA License # 0G81229.
Members of The Phoenix Companies, Inc.
The Phoenix Companies, Inc. (NYSE:PNX) is a boutique life insurance and
annuity company serving customers’ retirement and protection needs
through select independent distributors. Headquartered in Hartford,
Connecticut, Phoenix has a history of keeping its promises since 1851.
Phoenix’s distribution company, Saybrus Partners, Inc. helps
institutions and financial professionals nationwide deliver added value
to their clients with dedicated support, product expertise and
personalized insurance solutions for basic protection, as well as policy
recommendations for estate, business and income planning. For more
information, visit www.saybruspartners.com
Saybrus does not provide tax or legal advice. In California dba Saybrus
Partners Insurance Agency, CA license #0G81229.
ABOUT NATIONAL AGENTS ALLIANCE
National Agents Alliance is an innovative lead generation and marketing
organization that sells life insurance, annuities, and other financial
services products through more than 7,000 active independent sales
representatives in 50 states. Focused on serving middle-income families,
National Agents Alliance is the No. 1 United States provider of mortgage
protection insurance and offers a broad array of other affordable
products from highly regarded companies. Since its inception in 2002,
National Agents Alliance has helped more than 800,000 families
successfully apply for more than $87 billion in life insurance coverage.
For more information about National Agents Alliance, visit http://www.nationalagentsalliance.com/contact-us
or call 1-866-752-1163.
For additional information on this topic, please call Mac Heffner at
336.227.3319 x1189 or email Mac at email@example.com.
This press release may contain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995. We
intend for these forward-looking statements to be covered by the safe
harbor provisions of the federal securities laws relating to
forward-looking statements. These forward-looking statements include
statements relating to trends in, or representing management’s beliefs
about our future transactions, strategies, operations and financial
results, and often contain words such as “will,” “anticipate,”
“believe,” “plan,” “estimate,” “expect,” “intend,” “is targeting,”
“may,” “should” and other similar words or expressions. Forward-looking
statements are made based upon management’s current expectations and
beliefs concerning trends and future developments and their potential
effects on us. They are not guarantees of future performance. Our actual
business, financial condition or results of operations may differ
materially from those suggested by forward-looking statements as a
result of risks and uncertainties which include, among others:
(i) changes in our investment valuations based on changes in our
valuation methodologies, estimations and assumptions; (ii) the effect of
guaranteed benefits within our products; (iii) downgrades in our debt or
financial strength ratings; (iv) the possibility that mortality rates,
persistency rates, funding levels or other factors may differ
significantly from our assumptions used in pricing products; (v) the
availability, pricing and terms of reinsurance coverage generally and
the inability or unwillingness of our reinsurers to meet their
obligations to us specifically; (vi) the strong competition we face in
our business from banks, insurance companies and other financial
services firms; (vii) tax developments that may affect us directly, or
indirectly through the cost of, the demand for or profitability of our
products or services; (viii) market reaction to or receptivity of the
product and (ix) other risks and uncertainties described herein or in
any of our filings with the United States Securities and Exchange
Commission (“SEC”).Certain other factors which may impact our
business, financial condition or results of operations or which may
cause actual results to differ from such forward-looking statements are
discussed or included in our periodic reports filed with the SEC and are
available on our website at www.phoenixwm.com
under “Investor Relations”.You are urged to carefully consider
all such factors.We do not undertake or plan to update or revise
forward-looking statements to reflect actual results, changes in plans,
assumptions, estimates or projections, or other circumstances occurring
after the date of this press release, even if such results, changes or
circumstances make it clear that any forward-looking information will
not be realized.If we make any future public statements or
disclosures which modify or impact any of the forward-looking statements
contained in or accompanying this press release, such statements or
disclosures will be deemed to modify or supersede such statements in
this press release.
CommunicationsTodd Miller, 203-254-1300 firstname.lastname@example.org
Source: The Phoenix Companies, Inc.