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  • Phoenix Launches New Distribution Agreement with National Agents Alliance

    February 7, 2012 by N/A

    Redesigned Simplified-Issue, Indexed Universal Life Insurance Product to be Sold Through Select Distributors

    HARTFORD, Conn., Feb 06, 2012 (BUSINESS WIRE) — The Phoenix Companies,
    Inc. /quotes/zigman/281685/quotes/nls/pnx
    PNX -0.59%
    today announced a
    distribution agreement with National Agents Alliance (NAA) under which NAA
    agents can offer the redesigned Phoenix Simplicity Index Life product to their
    client base. Phoenix Simplicity Index Life (IUL) is a simplified-issue, indexed
    universal life insurance product that provides universal life insurance
    protection with an attractive ability to build cash value. Phoenix said it will
    seek a limited number of additional distributors for Phoenix Simplicity Index
    Life throughout 2012.

    “We have been working with National Agents Alliance for the past year
    developing this working relationship as well as redesigning the Phoenix
    Simplicity Index Life product,” said Biff Baker, National Sales Manager –
    Life Independent for Saybrus Partners, Phoenix’s distribution subsidiary.
    “NAA has shown both commitment and excitement in re-launching the Phoenix
    Simplicity Index Life product to the marketplace. Both organizations are
    confident this product offers great value while meeting continually changing
    consumer needs.”

    This redesigned product contains several features that make it attractive
    to consumers. Most notably, the simplified issue format allows the entire
    underwriting process to be covered with a limited number of questions, routine
    database checks and no invasive blood or lab tests, versus the much lengthier
    standard underwriting process. Phoenix Simplicity Index Life is the only
    product of its kind offered to individual consumers.

    “We are very excited to bring the Phoenix Simplicity Index Life product
    to the NAA platform,” said Andy Albright, President & CEO of National
    Agents Alliance. “We believe this product’s unique set of features,
    including cash accumulation potential without the risk of loss due to market
    downturns, will resonate with those seeking a simpler and more flexible life
    insurance solution.”

    Phoenix Simplicity Index Life offers permanent death benefit protection for those concerned about the financial security of a loved one, plus the additional advantage of an indexed feature. Since index credits are linked to the performance of the S&P 500(1) Index, clients are given the potential for higher earnings compared to fixed current interest rates, in addition to protection against market downturns. Interest and crediting rates are declared by Phoenix at the beginning of each index “segment” and are subject to change.

    Consumers can exchange pre-existing life insurance policies with Phoenix
    Simplicity Index Life, a process known as a 1035 Exchange, after consulting
    with a professional tax advisor regarding any tax consequences this process may
    produce. If an exchange is suitable, the consumer can trade in an existing
    policy for a more affordable one or add a cash value component to their policy
    for loans and/or withdrawals.

    To learn more about Phoenix Simplicity Index Life and other Phoenix
    Companies life insurance and annuity products, agents, financial advisors and
    other distributors can contact the Saybrus Sales Desk at (888) 794-4447 option
    1.

    (1)Standard & Poor’s(R),” “S&P(R),” “S&P 500(R),”
    “Standard & Poor’s 500” and “500” are trademarks of The
    McGraw-Hill Companies, Inc. and have been licensed for use by Phoenix Life
    Insurance Company and its affiliates. This policy is not sponsored, endorsed,
    sold or promoted by Standard & Poor’s and Standard & Poor’s makes no
    representation regarding the advisability of purchasing this policy. The values
    of the S&P 500 Index used in this product exclude dividends.

    Guarantees are based on the claims-paying ability of the issuing insurance
    company.

    Phoenix Simplicity Index Life (08IUL) is issued by PHL Variable Life
    Insurance Company (PHLVIC) (Hartford, CT). PHLIVC is not authorized to conduct
    business in New York and Maine. In New York and Maine, Phoenix Simplicity Index
    Life is issued by Phoenix Life Insurance Company (East Greenbush, NY). For
    California residents: Saybrus Partners, Inc. (dba Saybrus Partners Insurance
    Agency in California), CA License # 0G81229. Members of The Phoenix Companies,
    Inc.

    ABOUT PHOENIX

    The Phoenix Companies, Inc. /quotes/zigman/281685/quotes/nls/pnx
    PNX -0.59%
    is a boutique life
    insurance and annuity company serving customers’ retirement and protection
    needs through select independent distributors. Headquartered in Hartford,
    Connecticut, Phoenix has a history of keeping its promises since 1851.

    Phoenix’s distribution company, Saybrus Partners, Inc. helps institutions
    and financial professionals nationwide deliver added value to their clients
    with dedicated support, product expertise and personalized insurance solutions
    for basic protection, as well as policy recommendations for estate, business
    and income planning. For more information, visit www.saybruspartners.com and www.phoenixwm.com .

    Saybrus does not provide tax or legal advice. In California dba Saybrus
    Partners Insurance Agency, CA license #0G81229.

    ABOUT NATIONAL AGENTS ALLIANCE

    National Agents Alliance is an innovative lead generation and marketing
    organization that sells life insurance, annuities, and other financial services
    products through more than 7,000 active independent sales representatives in 50
    states. Focused on serving middle-income families, National Agents Alliance is
    the No. 1 United States provider of mortgage protection insurance and offers a
    broad array of other affordable products from highly regarded companies. Since
    its inception in 2002, National Agents Alliance has helped more than 800,000
    families successfully apply for more than $87 billion in life insurance
    coverage.

    For more information about National Agents Alliance, visit http://www.nationalagentsalliance.com/contact-us
    or call 1-866-752-1163.

    For additional information on this topic, please call Mac Heffner at
    336.227.3319 x1189 or email Mac at mheffner@naaleads.com.

    FORWARD-LOOKING STATEMENTS

    This press release may contain “forward-looking statements”
    within the meaning of the Private Securities Litigation Reform Act of 1995. We
    intend for these forward-looking statements to be covered by the safe harbor
    provisions of the federal securities laws relating to forward-looking
    statements. These forward-looking statements include statements relating to trends
    in, or representing management’s beliefs about our future transactions,
    strategies, operations and financial results, and often contain words such as
    “will,” “anticipate,” “believe,”
    “plan,” “estimate,” “expect,” “intend,”
    “is targeting,” “may,” “should” and other similar
    words or expressions. Forward-looking statements are made based upon
    management’s current expectations and beliefs concerning trends and future
    developments and their potential effects on us. They are not guarantees of
    future performance. Our actual business, financial condition or results of
    operations may differ materially from those suggested by forward-looking
    statements as a result of risks and uncertainties which include, among others:
    (i) changes in our investment valuations based on changes in our valuation
    methodologies, estimations and assumptions; (ii) the effect of guaranteed
    benefits within our products; (iii) downgrades in our debt or financial
    strength ratings; (iv) the possibility that mortality rates, persistency rates,
    funding levels or other factors may differ significantly from our assumptions
    used in pricing products; (v) the availability, pricing and terms of
    reinsurance coverage generally and the inability or unwillingness of our
    reinsurers to meet their obligations to us specifically; (vi) the strong
    competition we face in our business from banks, insurance companies and other
    financial services firms; (vii) tax developments that may affect us directly,
    or indirectly through the cost of, the demand for or profitability of our
    products or services; (viii) market reaction to or receptivity of the product
    and (ix) other risks and uncertainties described herein or in any of our
    filings with the United States Securities and Exchange Commission
    (“SEC”). Certain other factors which may impact our business,
    financial condition or results of operations or which may cause actual results
    to differ from such forward-looking statements are discussed or included in our
    periodic reports filed with the SEC and are available on our website at www.phoenixwm.com under “Investor
    Relations”. You are urged to carefully consider all such factors. We do
    not undertake or plan to update or revise forward-looking statements to reflect
    actual results, changes in plans, assumptions, estimates or projections, or
    other circumstances occurring after the date of this press release, even if
    such results, changes or circumstances make it clear that any forward-looking
    information will not be realized. If we make any future public statements or
    disclosures which modify or impact any of the forward-looking statements
    contained in or accompanying this press release, such statements or disclosures
    will be deemed to modify or supersede such statements in this press release.

    BPD38212

    SOURCE: The Phoenix Companies, Inc.

     

     

    Phoenix

    Alice
    Ericson, 860-403-5946

    alice.ericson@phoenixwm.com

    or

    CJP
    Communications

    Todd
    Miller, 203-254-1300 x149

    tmiller@cjpcom.com

     

     

    Copyright Business Wire 2012

    Originally Posted at MarketWatch on February 6, 2012 by N/A.

    Categories: Industry Articles
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