The Phoenix Companies Releases Updated Annuities
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Company Refreshes Premier LifeStyle Annuity and Secure LifeStyle Bonus Annuity Bringing New Innovation to
The Premier LifeStyle Annuity is a single premium indexed annuity with three indexed accounts, a fixed account, principal protection from investment loss and a guaranteed lifetime withdrawal benefit. Designed for individuals planning for retirement, the offering now provides, for an additional fee, an optional Income Enhancer PlusSM Benefit that allows for increased income growth based on the performance of the indexed and fixed accounts.
Alternatively, the Secure LifeStyle Bonus Annuity is a single premium fixed indexed annuity featuring an optional G.I.F.T. Benefit® Plus (Guaranteed Income and Family Wealth Transfer) that provides, for an additional fee, guaranteed lifetime income withdrawals as well as an enhanced death benefit until guaranteed withdrawals begin. The offering is designed for individuals in or close to retirement who are looking for a guaranteed increase to the income base.
“The persistence of the low interest rate environment and continued market volatility has increased the demand for retirement solutions for pre-retirees and those on the cusp of transitioning into retirement,” said
Premier LifeStyle Offers Upside Potential with No Risk of Market Loss
The Premier LifeStyle Annuity differs from its predecessor with the introduction of the Income Enhancer Plus benefit, which immediately enhances the value of the income benefit base by 20 percent and can continue to grow by 7 percent compounded each year thereafter for the first 10 contract years. The Income Enhancer Plus benefit also offers an additional potential increase to the income benefit base equal to 125 percent of the annuity’s interest earnings until lifetime income payments begin.
“We have seen a growing interest from pre-retirees for a financial solution that offers upside growth potential without the risk of losing principal due to volatility, and the Premier LifeStyle Annuity delivers on that delicate balance,” said
Secure LifeStyle Offers Immediate Income Bonus and Enhanced Death Benefit
Unlike other offerings available on the market, the Secure LifeStyle Bonus Annuity provides an immediate premium bonus of up to 8 percent, an income benefit base bonus of 20 percent, and potential increases of 7 percent simple interest each year thereafter as well as an enhanced death benefit. Secure LifeStyle Bonus Annuity provides immediate access to a consistent and reliable source of income, and there is an enhanced death benefit in excess of the initial premium until guaranteed income begins.
“Retirees have faced many challenges over the past five years and some have experienced significant portfolio losses,” said Vaswani. “Secure LifeStyle Bonus Annuity offers an immediate boost to their account value and income benefit base, while providing peace of mind from an available enhanced death benefit should they never start the income stream.”
The income benefit base is a value used to determine the fees and benefits for the rider, but it is not a guarantee of contract value or an amount available for a lump-sum withdrawal. The actual annual guaranteed withdrawal amount is determined by multiplying the benefit base by a withdrawal factor that is based on the covered person’s age at issue and age at first guaranteed withdrawal.
Additional information about Premier LifeStyle Annuity and Secure LifeStyle Bonus Annuity can be found on The AltiSure Group’s website at www.altisure.com.
BACKGROUND ON INDEXED ANNUITIES
An indexed annuity allows individuals to benefit from growth in the market without the risk of direct investment in the market. When the index shows a positive performance above a specified threshold, “index credits” that are based on that performance are added to the account value. Unlike direct investments, the account does not lose any value when the index goes down because the index credit can never be negative.
Annuities are long-term investments, particularly applicable for retirement planning. Withdrawals may be subject to surrender charges and taxes, as well as possible tax penalties if taken prior to age 59½.
Indexed annuities that offer a premium bonus may have lower crediting rates and higher fees and charges than similar non-bonus annuities that may more than offset the benefit of the upfront bonus over time.
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ABOUT THE ALTISURE GROUP
The Premier LifeStyle Annuity (10FIA, ICC09EIAN, 11GLWB2) and the Secure LifeStyle Bonus Annuity (10FIA, ICC09EIAN, 11GLWB2, 11GMDB-S.1) are single-premium indexed annuities issued by
Guarantees are based on the claims-paying ability of
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