We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,155)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (414)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (800)
  • Wink's Articles (353)
  • Wink's Inside Story (274)
  • Wink's Press Releases (123)
  • Blog Archives

  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • Phoenix Adds Term Insurance To Product Lineup

    October 6, 2014 by The Phoenix Companies

    Hartford, CT, Oct. 6, 2014 – The Phoenix Companies, Inc. (NYSE: PNX) today announced it has added term life insurance to its product offerings, Phoenix Safe Harbor Term LifeSM and Phoenix Safe Harbor Term Life ExpressSM. It also announced expansion into call center distribution through LifeQuotes.com for Term Life Express, complementing its traditional distribution through independent marketing organizations (IMOs).

    “Adding term life to our middle market insurance portfolio is an important step for Phoenix as we also launch a call center distribution capability,” said Thomas M. Buckingham, executive vice president, Product and Operations. “We expect the term offerings to contribute substantially to growth in our life insurance product line, and the combination of strong IMOs and call center distribution will help us achieve that goal.”

    Product Features Include Living Benefit Riders

    Phoenix Safe Harbor Term Life includes riders that can provide accelerated death benefits in case of chronic illness, critical illness or terminal illness, and a waiver of premium in case of unemployment. An optional accidental death benefit rider is also available for an additional premium. It is available in 10-, 15-, 20- and 30-year term periods to insureds from age 18 to between 50 and 80 at the time of issue, depending on the term length and tobacco use.

    Term Life Express offers the same benefits but uses simplified issue underwriting, with immediate underwriting decisions available via a teleunderwriting service. Face amounts for Phoenix Safe Harbor Term Life range from $50,000 to $1 million depending on issue age and underwriting band, while Term Life Express offers face amounts ranging from $25,000 to $400,000 depending on issue age. Features of Phoenix Safe Harbor Term Life and Term Life Express include:

    Critical illness, chronic illness and terminal illness riders, available at no additional premium, that give insureds the option to advance up to 95% of their death benefit in the event of a serious illness. The death benefit is reduced by the benefit amount that is accelerated, and future premiums are reduced proportionally to the remaining death benefit. The actual amount received is discounted based on the insured’s condition and life expectancy.

    • Unemployment rider, automatically included for issue ages 18 to 60 at no additional cost, waives six months worth of premium if the insured becomes unemployed for at least four weeks. This rider is subject to a 24-month waiting period from the date of issue and must be elected within 90 days of qualifying, which is defined as receiving state or federal employment benefits.
    • Optional accidental death benefit rider, which requires additional premium, must be elected at issue and is available to insureds under age 65 at time of issue and terminates at the insured’s age 70.

    “Our goal for Phoenix Safe Harbor Term Life and Term Life Express was to provide an affordable term product for middle market consumers with the added flexibility of living benefits that can help them plan for the unexpected and protect their loved ones,” said Mr. Buckingham. “The addition of term life further rounds out our middle market product portfolio, which includes whole life and indexed universal life.”

    Distribution Includes Select IMOs and Call Centers

    Phoenix Safe Harbor Term Life and Term Life Express are being distributed through select Independent Marketing Organizations including Brokers Alliance, Inc., Shoreline Financial Group and National Agents Alliance.

    Term Life Express also is being distributed by LifeQuotes.com, which represents multiple insurance carriers and provides consumers with resources to explore their life insurance options online and a toll-free number to call for further assistance and to apply for coverage.

    “Call center distributors cater to the type of consumers who want to shop for insurance online and also benefit from a personal consultation,” said Edward W. Cassidy, executive vice president, Distribution, and managing principal of Saybrus Partners, Inc., Phoenix’s distribution subsidiary. “They will provide a natural complement to our IMO relationships by extending our reach to people who might not seek financial advice from a local insurance agent.”

    Going forward, Phoenix expects to add more call center distributors for the Term Life Express product.

    Technology Tool Supports Agent Sales Process and Call Centers

    For both Phoenix Safe Harbor Term Life and Term Life Express, the company provides web-based and mobile quote tools to make it easier for distributors to help their clients customize the most appropriate benefit and rider combination for their needs and their budgets. Agents and call center representatives can offer their clients three easy ways to apply, including “point of sale” and “drop ticket” models, which both include teleunderwriting, as well as “traditional” paper submissions. The teleunderwriting services provide an initial underwriting review for Phoenix Safe Harbor Term Life and often result in an immediate underwriting decision for Term Life Express.

    To learn more about Phoenix Safe Harbor Term Life, Term Life Express and other Phoenix life insurance and annuity products, agents, financial advisors and other distributors can contact their Phoenix wholesaler, the Phoenix Life and Annuity Sales Desk at 800-417-4769, or visit www.phoenixwm.com.

    Originally Posted at InsuranceNewsNet on October 6, 2014 by The Phoenix Companies.

    Categories: Industry Articles
    currency