The Phoenix Companies Inc. has introduced the Phoenix Generations flexible-premium universal life insurance policy.[@@]

The policy is aimed at affluent customers who want to transfer personal estates or family businesses to others, according to Phoenix, Hartford.

Features include a secondary guarantee that will keep the policy from lapsing if holders follow a recommended premium payment plan.

The policy comes with a living benefit rider, and customers can buy a disability benefit rider that will credit a specific amount to the policy’s value if the insured becomes totally disabled, Phoenix says.