The Phoenix Companies Inc. (NYSE: PNX) introduced the Phoenix Personal Protection Choice Annuity, a single premium fixed indexed annuity. For an additional fee, annuity holders can combine up to three different benefits, including lifetime income, chronic care and an enhanced death benefit, to create a customized solution. Designed for individuals approaching or already in retirement, the annuity includes six indexed accounts, a fixed account and principal protection from investment loss.
Issued by PHL Variable Insurance Co., a Phoenix insurance subsidiary, the product is available through independent distributors working with Saybrus Partners.
Personal Protection Choice offers flexibility to combine the income protection benefit with the care protection and/or the family protection benefits. The income protection benefit provides a guaranteed lifetime withdrawal benefit that offers income enhancing features depending on when the client will first need income. The care protection benefit provides an enhanced withdrawal benefit for up to five years in the event that the annuity holder is unable to perform two of six Activities of Daily Living and is confined to a nursing home or receiving care at home.
Recommended For You
In conjunction with Personal Protection Choice, Phoenix launched REALIZE, a personal retirement analysis tool to assist agents and financial professionals as they guide clients through retirement planning conversations and individual needs assessments. Available online and on tablets, the tool can generate customized annuity proposals by transferring the client data to an interactive annuity quote tool, saving time from inputting duplicate client information. The resource also produces personalized outputs of clients' key retirement considerations.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
