Phoenix launches indexed annuity product series with "Look Back" indexed accounts

Phoenix Reflections offers customers a choice of five accounts: Three indexed accounts with earnings based on a point-to-point crediting method; one indexed account with earnings based on a performance trigger crediting method; and a fixed account that credits interest daily at a specified rate guaranteed for one year. Additional specifics on the indexed accounts are as follows:

• The S&P point-to-point indexed account provides annual credits to the customer equal to the positive 1-year return of the S&P 500, up to a specified cap.
• The other two point-to-point indexed accounts are “Look Back” options. These accounts provide annual credits to the customer based on the weighted average 1-year return of three measuring indices linked to domestic and global markets, up to a specified cap. The index with the best performance over the period is weighted 50%, whereas the worst performing index is weighted only 20%; the second best performing index is weighted at 30 %. Since no one index performs best every year, these accounts take the guesswork out of deciding which index will perform best in a given year.
• The performance trigger indexed account is also tied to the performance of the S&P 500 but is different from the point-to-point method in that it provides a pre-determined index credit if the 1-year S&P 500 return is positive.

Phoenix Reflections also features three optional guaranteed minimum withdrawal benefit riders for customers interested in purchasing additional income protection. Each guaranteed minimum withdrawal benefit rider offers a unique feature that allows the product to be tailored to each consumer’s particular income requirement. They include:

• “Income 25,” which provides a bonus to the initial benefit base equal to 25% of the account value (including any premium bonus, if applicable) at issue.
• “Income Plus,” which provides a guaranteed minimum 8% compound increase to the benefit base for the first 10 years or until the first withdrawal, whichever occurs first.
• “Income Max,” which provides relatively higher withdrawal percentages than other riders.

For more information, visit www.phoenixwm.com.