Phoenix Companies Inc. has introduced the Phoenix Indexed UL flexible-premium universal life insurance policy.
The policy offers holders a choice between a fixed account and 2 indexed accounts, according to Phoenix, Hartford.
One indexed account credits 100% of the growth in the S&P 500 stock index, up to a cap. The cap is now set at 12%.
The other indexed account credits a portion of the growth in the S&P 500, with no caps on annual growth. The current level of participation is 75%, Phoenix says.
The minimum guaranteed rate for the indexed accounts is 1%.