A life insurer wants to help more owners of small businesses use universal life insurance and variable universal life insurance to prepare for retirement.

Phoenix Companies Inc., Hartford, says it will be working with insurance agents and financial advisors to sell the owners of small and midsize companies supplemental retirement funding vehicles, deferred compensation plans and bonus plans that incorporate UL and VUL policies.

Phoenix has hired an outside plan administrator to provide sales support and administer the plans, the company says.