Agents with National Agents Alliance (NAA) will be able to offer the Phoenix Simplicity Index Life product to their clients. The Phoenix Companies Inc., (NYSE: PNX) announced the new distribution agreement on February 6. NAA is the first among a small group of distributors yet to be found that will be allowed to offer the product.
Phoenix Simplicity Index Life (IUL) is an indexed universal life insurance product that provides universal life insurance protection coupled with the ability to build cash value. The redesigned product has a simplified issue format making the underwriting process much less arduous and invasive. IUL offers permanent death benefit protection and the qualities of an indexed feature.