UPDATED 9/27/2012
Phoenix’s great array of annuity products just got a lot easier for financial advisors and brokers. Phoenix Cos. Inc. has introduced the EApp, a platform that will help advisors and brokers with the application process. They can also more easily research annuity products for their clients through this electronic application. Applications for fixed indexed annuities will be much more convenient for advisors and brokers, according to The Hartford Business Journal’s “CT’s Phoenix Cos. debuts app for filing annuity forms.” Insurance Technologies LLC developed the EApp and is marketing it as well. This app works on most tablet devices, such as the iPad. Those advisors looking at Phoenix’s Protected Solutions Annuity will be able to use the EApp to make the research and application process easier.
UPDATED 9/27/2012
If you have been shopping fixed equity indexed annuities, there is a new product from The Phoenix Companies that you may want to check out. According to a MarketWatch press release, Phoenix introduced the Protected Solutions Annuity today through their joint venture with The AltiSure Group. This single premium fixed indexed annuity has optional death benefits as well as chronic care protection. The Protected Solutions Annuity is meant for people who are close to their retirement. It has two indexed accounts, as well as a fixed account, and principal protection. If you’d like, you can add on a chronic care and enhanced death benefit option that is guaranteed. You can use the chronic care payments for a nursing home, assisted living facility, or even for care in your own home. If you die before utilizing the chronic care benefits, enhanced death benefits will go to your heirs.
Phoenix’s PHL Variable Insurance Company issues the Protected Solutions Annuity, which is only available through the AltiSure Group. Chronic care protection is important, and Phoenix says that this indexed annuity option is less expensive than traditional long term care insurance, which doesn’t even offer an enhanced death benefit. Those who opt for the “SafetyGuard” benefit can use their chronic care coverage once daily tasks are not able to be performed without help. For a period of five years, you can use a total of up to 400% of the premiums you paid in. If you don’t end up needing the chronic care payments, your heirs can get the Guaranteed Enhanced Death Benefit rather than the typical lump-sum death benefits. The Protected Solutions Annuity also has a simple process for application and can benefit Baby Boomers looking for a secure retirement.
Written by Rachel Summit
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