This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

The Phoenix Companies Launches Protected Solutions Annuity

The Phoenix Companies, Inc. (NYSE:PNX) today announced the introduction of the Protected Solutions Annuity, the newest offering developed through its strategic alliance with The AltiSure Group.

The product is a single premium fixed indexed annuity that offers two indexed accounts and a fixed account, principal protection from investment loss and, for an additional fee, a guaranteed chronic care and enhanced death benefit. Designed for individuals approaching or already in retirement, the Protected Solutions Annuity provides benefits that can be applied to chronic (or confinement) care within the home, an assisted living facility or nursing home. If the chronic care benefits go unused, the beneficiary is entitled to an enhanced death benefit.

The product, issued by PHL Variable Insurance Company, a Phoenix subsidiary, is available exclusively through The AltiSure Group.

“As the Baby Boomer generation ages and transitions into retirement, there is a growing need for protection against the costs of chronic care and confinement,” said Dana Pedersen, vice president and product officer for Phoenix. “Traditional financial vehicles that protect against the cost of extended care can be expensive. In addition, they often have a ‘use it or lose it’ element that prohibits a contract holder from recouping premium for unused benefits. Protected Solutions is different, providing chronic care benefits while hedging against the possibility that the benefits will go unused.”

Protected Solutions offers the unique “SafetyGuard Benefit” which provides both the chronic care benefit, as well as an enhanced death benefit. The Guaranteed Chronic Care Benefit can be activated when the covered individual is unable to perform at least two of the six Activities of Daily Living (bathing, dressing, transferring, toileting, continence, and eating) and provides benefits up to 400% of premium paid out over five years. If the covered individual never uses the chronic care benefit, upon death, the beneficiary can choose the Guaranteed Enhanced Death Benefit as an alternative to the standard lump-sum death benefit provided by the annuity account value.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs