NU Online News Service, April 28, 2005, 4:02 p.m. EDT

The Phoenix Companies Inc. is offering agents a new system for selling estate planning services, business transfer services and other services to owners of small businesses.[@@]

The Hartford company’s new Business Owner Strategies system uses a “decision grid” to help business owners determine whether should plan to keep or sell their companies, Phoenix says.

The system then provides step-by-step instructions on how to use life insurance in continuation planning, family succession planning, retirement planning, estate planning and nonqualified executive benefit planning.

The new system can help advisors shift the focus of a business owner’s attention from day-to-day operations to decisions about the future, Phoenix says.

Business owners make up at least 30% of the high-net worth market, and more than half of the members of the high-net worth market work in family businesses, according to a recent wealth market survey sponsored by Phoenix.