Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Phoenix Adds Annuity With Short Surrender-Charge Period

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Feb. 1, 1:47 p.m. – The Phoenix Companies Inc., Hartford, is selling the Phoenix Investor’s Edge variable annuity, a new contract that offers 45 investment subaccounts and a three-year period for surrender charges.

The product is more flexible than the typical VA contract, because customers can get money out without paying surrender charges more quickly than usual, Phoenix says.

The product also offers a return-of-premium option, which can protect holders against loss of principal due to market fluctuations, and an annual step-up option, which can protect against loss of past contract earnings as well as principal.

A third option, the Phoenix Earnings Protector option, can help reduce tax costs when holders use contract earnings to pay nursing home and assisted living bills, Phoenix says.

Phoenix is issuing the annuities through two life insurance subsidiaries, Phoenix Life Insurance Company, East Greenbush, N.Y., and PHL Variable Insurance Company, Hartford.

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.